Exxon Mobil has been correcting against the “Go” trend since the beginning of February.
As we see price correct after the Go CounterTrend Correction red arrow and fall into weaker aqua “Go” colors, the GoNoGo Oscillator has fallen to the zero line. A GoNoGo Squeeze is starting to build as the bulls and bears wrestle for control. We will watch to see if the oscillator finds support at the zero line and breaks out of the GoNoGo Squeeze to the upside, as it should if the “Go” trend is strong. If it can do that, we will look for price to enter another leg higher mounting an attack on the prior high.