A$ has been in a “Go” trend since August.
Since then, we have seen higher highs and higher lows. During a period of weakness, GoNoGo Trend painted a majority of weaker aqua bars and after an extended Max GoNoGo Squeeze (reflecting a tug of war between buyers and sellers) GoNoGo Oscillator briefly dipped into negative territory. However, it quickly recovered, and regained positive territory which helped give price the push it needed to move on to another higher high on strong blue “Go” bars. After the last high, we saw a Go Countertrend Correction Icon (red arrow) which signaled waning momentum and a likelihood for price to struggle to go higher in the short term. GoNoGo Oscillator fell to once again test zero. This time, it quickly found support and bounced back into positive territory as GoNoGo Trend once again paints strong blue bars. With price testing for new highs, we see a Go Trend Continuation Icon (green circle) under the latest bar. We will watch to see if this gives price the push it needs to move to a new higher high in the coming days.
