The Nasdaq index demonstrates a robust bullish trend, successfully holding its position above the primary trend line. Following a brief correction that formed a minor bearish channel, the current movement appears to represent a healthy phase of consolidation before the next potential rise. The stability of prices in the upper range indicates that selling pressure remains limited, while buying interest prevails, reflecting the market’s confidence in the continued positive momentum of this technology index.
From a technical perspective, the Zigzag indicator and Moving Average (MA) continue to show consistent direction favoring the bullish trend. As long as prices remain above the minor support channel, there are ample opportunities for further gains. Market optimism is also evident during the European session this afternoon, where increased buying activity adds momentum for potential stronger intraday rallies.
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Meanwhile, the price bounce from the lower boundary of the Bollinger Bands (BB) indicates a strong rebound, with the BB starting to widen upward, signaling a rise in buying momentum. Additional support comes from the MACD indicator, which remains in the positive area, reinforcing the prospects for gains in the near term. Based on this combination of technical signals, the Nasdaq is positioned to continue strengthening toward the key resistance level around 25,950, affirming that the upward trend remains the dominant direction.
Technical Reference: buy while above 25,658
Potential Take Profit 1: 25,885
Potential Take Profit 2: 25,950
Potential Stop Loss 1: 25,713
Potential Stop Loss 2: 25,658
