The Nasdaq continues to exhibit a bullish tendency on the 1-hour time frame, maintaining a stable position above the upward-sloping Moving Average (MA). The price structure indicates the formation of higher highs and higher lows, reflecting a robust dominance by buyers. As long as the price stays above the MA without breaching the nearest support level, this upward trend is anticipated to persist in the near future.
Additional support is provided by the MACD indicator, which remains above the signal line, reinforcing the positive momentum signal. The histogram expanding back into positive territory indicates that buying pressure is still active. This combination of technical signals from the MA and MACD offers an optimistic outlook that the Nasdaq has the potential to extend its gains towards the next resistance level.
Recommended
Recommended
Recommended
Recommended
In the short term, Nasdaq has the opportunity to continue its upward movement as the ZigZag indicator has formed an upward pattern, with prices above the ascending Moving Average (MA) on the 15-minute time frame. This combination of technical signals indicates that the buyers remain in control, opening up the possibility for Nasdaq to test the 21,895 level.
Technical Reference: buy while above 21,655
Potential Take Profit 1: 21,855
Potential Take Profit 2: 21,898
Potential Stop Loss 1: 21,700
Potential Stop Loss 2: 21,655
