$KEY has been in a “Go” trend since late November.
Since then, we have seen price race to highs close to $22. After the initial surge, we saw a Go Countertrend Correction Icon (red arrow) at the high indicating that price may struggle to go higher in the short term due to waning momentum. Indeed, we have then seen price move mostly sideways with GoNoGo Trend sprinkling in weaker aqua “Go” bars. During this time, GoNoGo Trend fell to test the zero line from above. We know that in a healthy “Go” trend this level should provide support for the oscillator, and we saw a Max GoNoGo Squeeze build as it remained at that level, reflecting a virtual tug of war between buyers and sellers. With GoNoGo Oscillator breaking out of the Max GoNoGo Squeeze into positive territory we see a Go Trend Continuation Icon (green circle) and we know that momentum is therefore resurgent in the direction of the “Go” Trend. We also see GoNoGo Trend paint a strong blue “Go” bar again as price climbs above resistance. We will look for price to consolidate at these elevated levels now before potentially climbing higher still.
