The Moving Average (MA) and Moving Average Convergence Divergence (MACD) technical indicators are signaling a robust bullish movement for the Nasdaq. Recent charts indicate that longer-period MAs are providing strong support levels, while the MACD reveals a significant divergence between the signal line and the histogram, highlighting an increasing bullish momentum.
Both indicators suggest potential for higher price movements, supporting the notion that the Nasdaq remains in an upward trend in the near term. Additionally, the formation of a bullish channel pattern further reinforces this upward prediction.
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On the 15-minute timeframe, both the Moving Average (MA) and Commodity Channel Index (CCI) indicate robust upward potential for the Nasdaq. The MA acts as a dynamic support level, guiding the pricing direction towards bullish trends, while the CCI residing in positive territory confirms strong momentum. This could trigger the Nasdaq to rise again and test the 21,880 resistance level.
Technical Reference: buy as long as above 21,717
Potential Take Profit 1: 21,845
Potential Take Profit 2: 21,880
Potential Stop Loss 1: 21,750
Potential Stop Loss 2: 21,717
