The Nasdaq, as seen on the one-hour chart, continues to display a robust upward trend, with buyers maintaining a firm grip on market direction. The zigzag pattern creating higher highs (HH) and higher lows (HL) reinforces that the bullish trend is intact. The upward movement of the Moving Average (MA) further strengthens the continuation signals of the rally, indicating ample room for further gains.
The strength of the trend is also evident from the prices holding above dynamic support levels, illustrating that buyers are still in control. As prices remain above these key levels, the potential for further gains in the Nasdaq remains viable, with an aim to test the nearest resistance during the European session this afternoon.
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Meanwhile, on the fifteen-minute chart, the bullish outlook is further bolstered as Nasdaq successfully breaches the bearish trendline. Additional signals arise from the MA turning upward again, supporting the potential rally towards significant resistance around the 25,173 mark.
Technical Reference: buy as long as prices stay above 24,950
Potential Take Profit 1: 25,125
Potential Take Profit 2: 25,173
Potential Stop Loss 1: 24,985
Potential Stop Loss 2: 24,950
