$CEG was in a “NoGo” correction as prices moved sideways since early November.
Having failed to set a lower low, we saw GoNoGo Trend paint several amber “Go Fish” bars representing uncertainty as to the strength of the “NoGo”. During this time, GoNoGo Oscillator rose to challenge the zero line from below and was able to regain positive territory. This told us that momentum was out of step with the “NoGo” trend, putting pressure on prices to rally. Now, with GoNoGo Trend painting a first aqua bar as price breaks above downward sloping resistance, we see GoNoGo Oscillator again finding support at zero. With momentum surging in the direction of the new “Go” trend, we will look to see if price can climb further in the coming days.
