The Nasdaq index is once again displaying robust upward momentum, having formed a bullish channel that has accompanied price movements in recent sessions. This pattern reflects the enduring strength of buyers, maintaining a steady increase amid market fluctuations. The zigzag structure creating higher highs and higher lows further reinforces the signal that the bullish trend remains intact. As long as prices navigate within this channel, the potential for further Nasdaq strength is likely to persist.
From a technical analysis perspective on the 1-hour chart, indicators consistently show signals of strengthening. The upward momentum appears stable, with no significant selling pressure, while support from market participants optimistic about the technology sector bolsters the trend direction. Given these conditions, the Nasdaq could continue its ascent towards the next resistance level, provided prices remain above the dynamic support and that no strong reversal signals emerge.
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On the 15-minute timeframe, the Nasdaq demonstrates an increasingly solid bullish momentum after successfully breaking through the previously established bearish trendline. Technical indicators such as the MA trending upwards and the MACD remaining in positive territory provide additional confirmation that the upward trend continues. With support from these technical signals, the Nasdaq has the potential to extend its rally toward the resistance zone near 25,425, as long as buyers can maintain their dominance through the upcoming European session.
Technical Reference: buy while above 25,218
Potential Take Profit 1: 25,392
Potential Take Profit 2: 25,425
Potential Stop Loss 1: 25,250
Potential Stop Loss 2: 25,218
