The Nasdaq continues to exhibit a robust upward trend on the 1-hour time frame, with prices moving back into a bullish channel pattern. This structure indicates sustained buying pressure, as market participants are taking advantage of any corrections to re-enter long positions. The ZigZag indicator reaffirms the strength of the trend through continuous formations of higher highs and higher lows, signaling a steadfast upward trajectory.
Technical support is also evident in the rising Moving Average (MA) line, along with the MACD indicator remaining in positive territory, reinforcing signals for ongoing bullish momentum. As long as the Nasdaq stays within this channel and does not exhibit any reversal signals, the potential for continued increases remains wide open. Under these conditions, the Nasdaq index is likely to test the nearest resistance level shortly, especially if global market sentiment continues to favor risk assets.
Recommended
Recommended
Recommended
Recommended
Signs of revival are apparent in the Nasdaq on the 15-minute time frame after successfully breaking above the upper threshold of the previous bearish channel. Technical signals are looking increasingly positive, with the Moving Average (MA) line sharply rising, indicating a strengthening buying momentum. Additionally, the Stochastic indicator is beginning to rebound from an oversold territory, providing early confirmation that selling pressure is diminishing and the chances for a upward reversal are becoming more favorable. With this combination of signals, the Nasdaq is poised to continue its recovery, potentially testing the 23,270 mark soon.
Technical Reference: buy as long as above 23,043
Potential Take Profit 1: 23,220
Potential Take Profit 2: 23,270
Potential Stop Loss 1: 23,088
Potential Stop Loss 2: 23,043
