On the 1-hour timeframe, the Nasdaq continues to display strength, remaining above a bullish channel, which indicates that the upward trend structure is well preserved. The price consistently moves in a higher high and higher low pattern, reflecting the strong influence of buyers who are steadily pushing the index higher. Maintaining position above this channel signals that buying pressure remains robust, with no significant signs of a reversal in direction.
Further support is provided by the Moving Average (MA) indicator, which continues to trend upwards, reinforcing the short-term bullish bias. Meanwhile, the Zigzag indicator also reflects an upward pattern, with swing highs and swing lows increasing over time. This combination suggests that the Nasdaq has the potential to strengthen further, as long as significant selling pressure does not breach the current technical structure.
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On the 15-minute timeframe, the established bullish channel continues to support the Nasdaq’s upward movement, reflecting the stability of the short-term trend dominated by buyers. The rising Moving Average (MA) serves as a signal that buying strength is still prominent, while the MACD remaining in positive territory adds to the confidence in potential continued price increases. The combination of this technical structure and the indicators’ momentum indicates that the Nasdaq is likely on track to continue its upward movement in the near future, testing the resistance level of 23,423.
Technical Reference: Buy while above 23,155
Potential Take Profit 1: 23,360
Potential Take Profit 2: 23,423
Potential Stop Loss 1: 23,210
Potential Stop Loss 2: 23,155
