$TRGP has been in a “Go” trend since early in November.
Since then, we have seen price make a series of higher highs and higher lows, climbing to over $187. At that high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed we saw GoNoGo Trend paint weaker aqua bars as price fell from the high and GoNoGo Oscillator fell to test the zero line from above. It was important that price found support at the upward sloping trend line and also GoNoGo Oscillator found support at zero. As the price trend regained strength (bright blue bars) we saw continued oscillator support at the zero line giving signals of Go Trend Continuation (green circles). Now, with price testing overhead resistance, we see another Go Trend Continuation Icon (green circle). With momentum therefore resurgent in the direction of the “Go” trend, we will watch to see if price can break to a new higher high and overcome the resistance we see on the chart in the coming days.
