The Nasdaq continues to showcase the strength of the buyers on the 1-hour timeframe, with prices maintaining a stable movement within a bullish channel, indicating that the upward trend is far from losing momentum. This structure demonstrates that every correction is exploited by buyers to push prices back towards the nearest resistance area. The consistent tendency of prices to stay at the upper part of the channel further emphasizes that the bullish sentiment remains robust, reinforced by the moving average (MA) that is trending upwards, providing another signal that the positive momentum is still very much alive.
Additional technical signals further support the upcoming upward scenario. The ZigZag pattern forming an uptrend structure highlights the consistency of the rising trend, while the CCI indicator bouncing back from the oversold area provides an early sign that buying pressure is reactivating after a brief pullback. With this alignment of price action and indicators, the Nasdaq has a strong chance of continuing its bullish momentum, particularly if buyers can maintain control above the dynamic support within the bullish channel.
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On the 15-minute timeframe, the Nasdaq is also exhibiting steady movement within a bullish channel, indicating that the upward structure is well-maintained. The continuously rising MA reinforces the dominance of the buyers, while the MACD being in positive territory adds momentum for continued strengthening. With such a solid combination of technical signals, the Nasdaq is poised for further gains and is expected to test the nearest resistance area at 25,786 shortly.
Technical Reference: buy as long as above 25,640
Potential Take Profit 1: 25,758
Potential Take Profit 2: 25,786
Potential Stop Loss 1: 25,670
Potential Stop Loss 2: 25,640
