The Nasdaq is once again displaying remarkable strength as it continues its upward trend within a bullish channel on the 1-hour time frame. This situation reaffirms the dominance of buyers, who show no signs of weakness, and has led the index to set a new all-time high. The persistent structure of price movements forming a stable ascending pattern serves as evidence that the bullish momentum remains intact, with each correction acting merely as a brief pause before further upward movement.
From a technical standpoint, the rising Moving Average (MA) provides additional confirmation that the short-term trend remains positive. Moreover, the consistent zigzag pattern forming higher highs and higher lows further strengthens the upward direction. This combination of technical signals indicates that the Nasdaq is well-positioned to maintain its momentum in the upcoming sessions, with the possibility of continuing to rise as long as prices remain above the lower boundary of the bullish channel.
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The Nasdaq shows signs of strengthening after successfully rebounding from the lower area of the Bollinger Bands (BB), indicating buying activity in the oversold region. The rising CCI indicator from the oversold territory further reinforces signals of a potential upward reversal. This combination of technical indicators suggests that bullish momentum is beginning to reestablish, opening the door for the Nasdaq to continue its ascent and test the crucial resistance level of 26,410 in the near future.
Technical Reference: buy as long as above 26,107
Potential Take Profit 1: 26,365
Potential Take Profit 2: 26,410
Potential Stop Loss 1: 26,158
Potential Stop Loss 2: 26,107
