From a technical perspective, the momentum indicators are still reinforcing the ongoing bullish trend. The upward direction of the Moving Average (MA) adds to the rising signal, while the formation of higher lows reflects that the market is still on a positive trajectory.
With this combination of price patterns and technical support, the Nasdaq is likely to carry on with its upward rally in the near future, as long as there is no significant drop below the new support area, which has become a crucial foundation for buyers.
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On the 15-minute timeframe, the Nasdaq demonstrates a steadily strengthening bullish momentum after successfully breaking through the previous bearish trendline. Technical indicators such as the MA reversing to an upward direction and the MACD remaining in positive territory provide additional confirmation that the upward trend is still intact. With these technical signals supporting it, the Nasdaq may continue its rally toward the resistance area around 25,445, provided that buyers maintain their dominance until this afternoon’s European session.
Technical Reference: buy as long as above 25,218
Potential Take Profit 1: 25,392
Potential Take Profit 2: 25,445
Potential Stop Loss 1: 25,268
Potential Stop Loss 2: 25,218
