The Nasdaq is exhibiting a consistent upward movement on the 1-hour chart, bolstered by the expansion of Bollinger Bands toward the upside, indicating an increase in positive volatility. The current price is consistently above the middle Bollinger line, signaling that buying pressure is still dominant. The upward direction of the upper band further reinforces the suggestion that the Nasdaq is in a strengthening phase, where buyers are continuously pushing prices to higher levels without significant selling pressure in the short term.
In parallel, the MACD indicator supports the bullish scenario as the MACD line is positioned above the signal line, and the histogram is consistently growing in the positive territory. This shows that the upward momentum remains solid and shows no signs of weakening. As long as the price remains above the dynamic support area and sharp reversals do not occur, the chances of the Nasdaq continuing its upward trend remain wide open.
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A bullish structure that is beginning to form on the 15-minute Nasdaq chart signals potential continuation of the upward trend in the short term. The Moving Average (MA) line appears to be trending upwards, supporting the positive bias that is developing, while the MACD indicator shows strengthening upward momentum with the MACD line positioned above the signal line and the histogram starting to enlarge in the positive zone. This technical combination indicates that buyers are still controlling the direction of movement, creating opportunities for the Nasdaq to climb further towards testing 20,355.
Technical Reference: buy while above 20,005
Potential Take Profit 1: 20,298
Potential Take Profit 2: 20,355
Potential Stop Loss 1: 20,072
Potential Stop Loss 2: 20,005
