$DUG looking for new highs in “Go” trend

$DUG looking for new highs in “Go” trend


December 2022


Alex Cole

$DUG has been rising from the low it set in a "NoGo" trend in mid November.

After a couple of NoGo Countertrend Correction Icons (green arrows) we have seen price slowly rise making a series of higher lows.  GoNoGo Oscillator rode the zero line for an extended period as the market struggled to find direction.  Finally, the oscillator broke out of the GoNoGo Squeeze into positive territory on heavy volume leading to a new "Go" trend being identified in early December. The oscillator once again fell to test the zero line and has found support indicating that momentum is now in the direction of the "Go" trend.  We can look now for price to make an attempt at a new high.