The Nasdaq index is once again demonstrating a robust upward trend, characterized by the emergence of a bullish channel that has guided price movement in recent trading sessions. This pattern reflects a strong dominance of buyers, maintaining stability in upward momentum amidst market fluctuations. The zigzag structure forming higher highs and higher lows further reinforces the signal that the bullish trend remains intact. As long as the price stays within this channel, the potential for further Nasdaq strength is expected to continue.
From a technical perspective on the 1-hour chart, indicators consistently reflect strengthening signals. The upward momentum appears stable without significant selling pressure, while the support from market participants remains optimistic about the technology sector, bolstering the trend’s direction. Given these conditions, the Nasdaq has the opportunity to extend its rise towards the next resistance level, as long as prices can sustain above dynamic support and no strong reversal signals emerge.
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As we approach the US session tonight, the Nasdaq is showing increasingly solid bullish momentum after successfully breaking through the previous bearish trendline. Technical indicators such as the moving averages turning upwards and the MACD remaining in positive territory provide additional confirmation that the upward trend is ongoing. With support from these technical signals, the Nasdaq is poised to continue its rally towards the resistance area around 25,425, as long as buyers can maintain their dominance until the closing of tonight’s trading session.
Technical Reference: buy 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
