$OKE has been in a “Go” trend since late last year.
There was a period of uncertainty in January as GoNoGo Trend painted several amber “Go Fish” bars and GoNoGo Oscillator dipped into negative territory. However, the oscillator quickly rallied back above the zero line and and price roared to new highs on strong blue bars. After the last high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, we then saw price fall from the high on weaker aqua bars. GoNoGo Oscillator fell to test the zero line from above and we saw the formation of two Max GoNoGo Squeeze’s. GoNoGo Oscillator has now broken sharply out of the GoNoGo Squeeze as price tested and broke above the resistance we see on the chart painting bright blue bars. We will watch to see if price can consolidate these gains before perhaps climbing higher still.
