The performance of the Nasdaq has once again stood out, demonstrating remarkable resilience amid an ongoing bullish trend. After briefly forming a minor bullish channel due to a short-term correction, this pattern now appears to be a healthy consolidation phase that reinforces the upward trajectory. Prices remaining above the main trendline indicate that selling pressure is still limited and not strong enough to significantly alter the trend. This condition also reflects the high level of market confidence in the potential strength of the technology index.
On the technical front, indicators such as Zigzag and Moving Average (MA) continue to display positive signals that strengthen the likelihood of a continued upward trend. As long as prices stay above the support area of the minor channel, the potential for bullish movement remains wide open. The optimistic sentiment also seems to be increasing, particularly during the European afternoon session, when buying interest begins to grow, often serving as a catalyst for a stronger intraday rally.
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Conversely, the price rebound from the lower Bollinger Bands (BB) signals that the market is entering a healthy rebound phase, with buyers regaining control. The direction of the BB, beginning to expand upward, indicates an increase in bullish momentum, while the MACD moving within the positive zone confirms the strengthening upward push. With this combination of technical signals, the Nasdaq is poised to continue strengthening and test significant resistance around 25,467 soon.
Technical Reference: Sell while below 25,208
Potential Take Profit 1: 25,412
Potential Take Profit 2: 25,467
Potential Stop Loss 1: 24,257
Potential Stop Loss 2: 25,208
