Alex Bobrov
⬤ NASDAQ steadied after a short-term pullback, with prices bouncing higher from support inside a well-defined ascending channel on the hourly chart. The recent decline triggered reaction buying, helping preserve the broader upward structure. However, price action near the upper region of the channel shows hesitation rather than a decisive breakout, suggesting consolidation remains the dominant near-term theme.
⬤ Technical indicators reinforce this balanced outlook. The RSI sits around 57, indicating neutral-positive momentum without overbought conditions. Trading volume remains at medium levels, limiting confirmation of a stronger directional move. Volume Profile highlights a point of control near 25,539, marking an area where buyers and sellers have been closely matched. Bollinger Bands place price between the middle and upper bands, supporting a horizontal-to-positive bias. Parabolic SAR remains below price, indicating the prevailing trend structure is still intact.
⬤ Support zones are located around 26,109, followed by 26,049 and 25,963, where buyers have previously responded. Resistance is seen near 26,175 and 26,258, with the upper boundary of the ascending channel aligning close to 26,495. Continued movement within the channel represents the healthier technical scenario, while a more aggressive rally would require a clean break above the upper band with stronger volume.
⬤ This setup is notable amid ongoing earnings releases and shifting expectations around central bank policy, both of which continue to influence market volatility. While selective buying persists in tech stocks, headline-driven swings remain a risk. NASDAQ's ability to respect channel support while approaching resistance may shape short-term market tone and directional confidence across broader equity benchmarks.
Alex Bobrov
