On the hourly chart, the Nasdaq continues to exhibit a strong upward trend, maintaining its position within a bullish channel. The ongoing pattern of forming higher highs (HH) and higher lows (HL) reinforces that the strength of buyers continues to be the primary force in the market. As long as prices remain above the lower boundary of the channel, any weakness observed is likely to be technical in nature and does not pose a threat to the overall trend direction.
From a technical perspective, the upward-sloping Moving Average (MA) serves as a key support for the positive trend of the Nasdaq, in alignment with the ZigZag indicator that maintains the uptrend structure. Furthermore, the MACD, positioned in the positive zone, indicates that the bullish momentum remains intact. The combination of these indicators provides the Nasdaq with the opportunity to continue its upward movement and approach the nearest resistance zone in the near future.
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On the 15-minute chart, the Nasdaq displays an acceleration of bullish momentum after successfully breaking through the bearish channel resistance and initiating the formation of a new bullish channel. This situation reflects a return to buyer dominance in the short term, bolstered by the CCI rebounding from the oversold area, signaling an initial continuation of the price rise. As long as buying pressure persists, there is potential for Nasdaq to strengthen further and test the resistance at the 25,995 level.
Technical Reference: buy while above 25,775
Potential Take Profit 1: 25,955
Potential Take Profit 2: 25,995
Potential Stop Loss 1: 25,820
Potential Stop Loss 2: 25,775
