The bullish signals present in the Nasdaq index continue to demonstrate resilience, as a consistent upward trend evolves within the 1-hour timeframe. The ZigZag indicator reveals a pattern of increasing higher lows, suggesting that selling pressure is diminishing while buyers are starting to take control of the market direction. The upward trajectory of the Moving Average (MA) further solidifies the trend structure, highlighting price stability above previous moving averages, a hallmark of a market in a bullish phase.
This dominance by buyers is reinforced by indications of oversold conditions from the Commodity Channel Index (CCI), which typically suggests that prices are poised for a rebound after a confined correction. Such a scenario generates technical opportunities for the Nasdaq to further its climb towards the next resistance level. As long as there is no sharp decline below the established higher low structure, the upward trend is expected to persist.
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The Nasdaq continues to exhibit robust upward momentum within a 15-minute timeframe, characterized by the emergence of a solid bullish trendline consistently supporting price movement. The ascending Moving Average (MA) further enhances this technical structure, reflecting stability in the short-term positive trend. Moreover, the OSMA indicator positioned in the positive zone corroborates the prevailing buying momentum, indicating that upward pressure remains robust. This combination of technical signals suggests that the Nasdaq is well-positioned to advance to the subsequent resistance level of 23,120.
Technical Reference: buy as long as above 22,923
Potential Take Profit 1: 23,080
Potential Take Profit 2: 23,120
Potential Stop Loss 1: 22,955
Potential Stop Loss 2: 22,920
