On the 1-hour chart, the Nasdaq is still exhibiting a robust bullish trend, indicating that buyers continue to dominate the price movement. The consistent market structure, forming higher highs (HH) and higher lows (HL), suggests that the upward momentum remains well preserved. The upward movement of the Moving Average (MA) further reinforces this signal, providing a possibility for continued rallies in the near term.
Strong buying pressure is also reflected in the price’s ability to stay above the dynamic support area, indicating that the market is still in an accumulation phase. As long as prices do not breach the critical support zone, the potential for Nasdaq to rise remains significant, with a chance to test the next resistance level during the European session this afternoon. This situation illustrates that market participants remain optimistic about the growth prospects in the technology sector, which is the main driver of the index’s movement.
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On the 15-minute timeframe, the Nasdaq shows increasingly solid bullish momentum after successfully breaking through the previous bearish trendline. Technical indicators such as the MA reversing upward and the MACD remaining in positive territory provide additional confirmation that the uptrend is still ongoing. With the support of these technical signals, the Nasdaq has the potential to continue its rally towards the resistance area around 25,305, as long as buyers can maintain their dominance until the European session this afternoon.
Technical Reference: buy during the price above 25,030
Potential Take Profit 1: 25,245
Potential Take Profit 2: 25,305
Potential Stop Loss 1: 25,073
Potential Stop Loss 2: 25,030
