Nasdaq Remains Bullish: Supported by a Bullish Channel, Moving Averages, and MACD

The technical indicators Moving Average (MA) and MACD (Moving Average Convergence Divergence) are providing strong signals for a bullish movement in Nasdaq. The latest charts indicate that longer-period MAs are creating a sturdy support level, while the MACD showcases a notable divergence between the signal line and histogram, indicating an intensifying bullish momentum.

Both indicators suggest the possibility of higher price movements, reinforcing speculation that Nasdaq is on the brink of entering a new uptrend. Moreover, the formation of a bullish channel further bolsters this bullish outlook.

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On the 15-minute timeframe, the Moving Average (MA) and Commodity Channel Index (CCI) indicate solid potential for upward movement in Nasdaq. The MA serves as a dynamic support level, guiding the price movement towards a bullish trend, while the CCI remains in positive territory, confirming strong momentum. This could lead Nasdaq to rise again to test the resistance at 21,970.

Technical References: buy while above 21,738
Potential Take Profit 1: 21,925
Potential Take Profit 2: 21,970
Potential Stop Loss 1: 21,784
Potential Stop Loss 2: 21,738