After a “NoGo” that saw $BOIL price fall over the last few months from over $120 to just over $30, we have seen price consolidate.
Now, as price stabilizes and sets slightly higher lows GoNoGo Oscillator has risen to the zero line. As it remains stuck there, indicating a lack of directional momentum, we see the grid of GoNoGo Squeeze at its max. We will watch to see in which direction the Squeeze is broken as this will likely tip us off to price’s next direction. If the oscillator gets rejected by the zero line, expect further downside pressure. If it can break out of the Squeeze into positive territory then we may see an end to the “NoGo”.