The Nasdaq index continues to display a strong bullish trend, remaining stable within a robust bullish channel tonight. During the European session, the Nasdaq has successfully maintained its position at elevated levels, bolstered by key technical indicators that are emitting positive signals.
The Moving Average (MA) indicates a rising trend over the medium term, while the MACD indicator reinforces the bullish momentum with a positive histogram and MACD line consistently above the signal line.
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In alignment with the one-hour chart analysis, the 15-minute chart above reveals that the Nasdaq is also indicating a buying signal as the MA trends upward and the MACD remains in positive territory, enhancing its potential for further increases. Assuming this scenario holds true, the Nasdaq has a chance to rise and test the resistance level of 21,810.
Technical Reference: buy while above 21,560
Potential Take Profit 1: 21,770
Potential Take Profit 2: 21,810
Potential Stop Loss 1: 21,610
Potential Stop Loss 2: 21,560
