$FE has been back in a “Go” trend since the middle of last month.
We have seen since then, price fail at prior resistance on its first new high. We saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term and indeed we saw price then move mostly sideways with GoNoGo Trend sprinkling in its fair share of weaker aqua colors. GoNoGo Oscillator fell to test the zero line from below and we see that it found support at that level on heavy volume (dark blue of oscillator). This led to a Go Trend Continuation Icon (green circle) telling us that momentum is resurgent in the direction of the “Go” trend. Concurrently, with GoNoGo Trend again painting strong blue bars, we see price breaking to a new higher high above horizontal resistance. With the boost in momentum we will look to see if price can consolidate at these levels before perhaps climbing higher still.
