The Nasdaq continues to exhibit a strong bullish trend, showing no signs of slowing down as it sets new historical highs. The structure of the bullish channel still intact on the 1-hour timeframe indicates that buyers are firmly in control of the market, while selling pressure appears limited for now. This consistent upward movement confirms that the positive momentum remains robust, with prices continuing to follow the primary trend without any significant reversal signals in sight. This situation suggests that further gains are very much possible in today’s trading session.
From a technical perspective, the movement of ZigZag and the tightening Moving Averages (MA) illustrate a pattern of ongoing increases, enhancing the short-term bullish bias. As long as prices remain within the ascending channel and above the MA line, the likelihood of the Nasdaq achieving new record highs remains very high. However, traders are advised to monitor newly established historical resistance levels, as the potential for profit-taking could arise unexpectedly following such a strong rally. Overall, the main trend still supports a bullish scenario backed by solid momentum and healthy technical structure.
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The Nasdaq price continues to strengthen, breaking through the resistance of the Bollinger Bands (BB), indicating that the bullish momentum is still strong. The sharply rising Moving Average (MA) confirms the strength of the trend, while the Stochastic indicator moving up from the oversold area provides an additional signal that buying pressure is regaining dominance. With this combination of technical signals, there is a likelihood for the Nasdaq to continue its rise to test the resistance level of 26,482 on the 15-minute timeframe, as long as prices maintain support above that breakout area.
Technical Reference: buy while above 25,138
Potential Take Profit 1: 26,418
Potential Take Profit 2: 26,482
Potential Stop Loss 1: 26,196
Potential Stop Loss 2: 26,138
