The Nasdaq index continues to demonstrate strong resilience amid a persistent uptrend. Although a minor bearish channel formed following a sharp decline in the major channel, this pattern has actually contributed to a healthy consolidation phase that supports price movements during the US trading session tonight. The technical structure remaining above the main trend line indicates that selling pressure has not been sufficient to significantly alter the trend direction. The strength of buyers remains dominant, signaling that the market maintains optimism for further upward movement.
From a technical indicator perspective, both ZigZag and Moving Average (MA) still exhibit bullish signals, reinforcing the view that upward momentum is preserved. As long as prices hold above the minor support channel, the opportunity for the Nasdaq to continue strengthening remains wide open. With solid technical support, this index could extend its rally towards the next resistance area during tonight’s US session.
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The Nasdaq shows potential for continued rise after prices bounced from the lower Bollinger Bands (BB), indicating a healthy correction amid a sustained uptrend. The upward direction of the BB reflects solid bullish momentum, while the MACD indicator climbing into positive territory strengthens the chances for continued gains. With this combination of technical signals, the Nasdaq is positioned to further advance toward testing the resistance level of 25,447 soon.
Technical References: buy as long as above 25,135
Potential Take Profit 1: 25,390
Potential Take Profit 2: 25,447
Potential Stop Loss 1: 25,194
Potential Stop Loss 2: 25,135
