The Nasdaq index is starting to exhibit early signs of a trend reversal after successfully breaking through the resistance zone of its bearish channel on the 1-hour time frame. This breakout serves as an indication that the dominance of sellers is waning, allowing buyers to take control of the market. The technical structure further supports this scenario, where price movements escaping from a downward channel typically signal a transition toward a new bullish phase. This breakout is a crucial confirmation that market momentum is beginning to shift direction significantly.
Other technical indicators also strengthen the outlook for continued bullish activity. The Moving Average (MA) is sharply rising, the ZigZag pattern is clearly forming higher highs, and the MACD is in positive territory, indicating an increase in buying pressure. This combination of signals provides strong support for the possibility of continued gains in the near future. With the breakout confirmation and aligned momentum indicators, the Nasdaq has a solid chance to extend its rally and test subsequent resistance levels.
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A bullish channel now guides the rise of the Nasdaq on the 15-minute time frame, indicating an increasingly robust price structure. The upward movement of the MA, along with the MACD remaining in positive territory, enhances the potential for continued bullish trends, opening the door for the Nasdaq to test critical resistance at 25,355 with greater probability.
Technical Reference: buy as long as it stays above 25,075
Potential Take Profit 1: 25,282
Potential Take Profit 2: 25,355
Potential Stop Loss 1: 25,145
Potential Stop Loss 2: 25,075
