The formation of a bullish channel on the Nasdaq in the 1-hour time frame presents a strong technical signal indicating that upward momentum remains intact during the US session tonight. The price structure consistently moving in an upward pattern illustrates buyer dominance, while the ZigZag indicator forming higher lows and higher highs further confirms the continuity of this bullish trend. This condition highlights that market sentiment remains optimistic, with participants actively pushing prices towards higher levels.
The upward slope of the moving average also adds technical support for the Nasdaq to maintain its bullish trend. As long as prices stay above the moving average line and do not break through the lower boundary of the channel, the chances for continued upward movement are expected to remain open. With these supportive signals, the Nasdaq has the potential to test the nearest resistance level, which is a crucial area for the continuation of this positive momentum.
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During tonight’s US session, the Nasdaq demonstrates solid upward momentum with prices maintaining stability within the bullish channel. The rising moving average line and the MACD indicator in positive territory increasingly assert buyer dominance and open the door for potential short-term rallies. With this technical combination, the index may continue to strengthen, targeting a key resistance level around 25,790.
Technical Reference: buy while above 25,560
Potential Take Profit 1: 25,732
Potential Take Profit 2: 25,765
Potential Stop Loss 1: 25,595
Potential Stop Loss 2: 25,560
