$BAC has been in a new “Go” trend since the middle of last week.
Rallying out of a brief “NoGo” correction, we saw amber “Go Fish” bars as price transitioned back to a “Go”. During this time, GoNoGo Oscillator was riding the zero line and we saw a the build up of a GoNoGo Squeeze. As GoNoGo Trend strengthened to paint bright blue bars, GoNoGo Oscillator broke out of the Squeeze into positive territory. With momentum therefore resurgent in the direction of the new “Go” trend, we will look to see if this gives price the push it needs to move higher and above the downward sloping resistance we see on the chart.
