During the US session tonight, the Nasdaq is preserving its upward trend with price movements consistently stable within a bullish channel on the 1-hour time frame. The persistent price structure forming a rising pattern signals that the buying power remains robust in the market. Further confirmation is provided by the Zigzag indicator, which reveals Higher High and Higher Low formations, reinforcing the current upward trend. As long as the price does not breach the lower limit of the channel, the opportunities for further strengthening remain wide open.
This positive momentum is also bolstered by the Moving Average (MA) indicator, which continues to trend upwards, indicating that the buying strength shows no signs of weakening. Besides being a trend marker, the MA acts as a dynamic support, preserving price stability against short-term selling pressure. With these supportive technical signals from the bullish channel, Zigzag, and MA, the Nasdaq has significant potential to extend its rally during tonight’s US session, especially if the market conditions remain favorable and investor risk appetite is not swayed by negative sentiment.
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On the 15-minute time frame, Nasdaq’s movements indicate a breakout signal from the preceding bearish channel that previously constrained price action. The sharp rise accompanied by the breakthrough of the upper channel and the moving average line (MA) signifies an increase in buying pressure in the short term. This price surge successfully propels the Nasdaq out of the support zone, creating room to continue its rally toward the next resistance area. As long as the price remains above the breakout area, bullish opportunities remain widely open to test 22,932.
Technical Reference: buy while above 22,667
Potential Take Profit 1: 22,895
Potential Take Profit 2: 22,932
Potential Stop Loss 1: 22,707
Potential Stop Loss 2: 22,667
