$GL has been in a “Go” trend since rallying out of the last “NoGo”.
Since that time in early December we have seen higher highs and higher lows. Now, we see that price has run up against resistance again from the prior high of the last “Go” trend in September of last year on strong blue bars. When we turn our attention to the lower panel, we see that GoNoGo Oscillator has been finding support at the zero line. This tells us that momentum remains in the direction of the “Go” trend. Most recently, we saw the Oscillator bounce off the zero line back into positive territory. With resurgent momentum in the direction of the trend, we will watch to see if this gives price the boost it needs to clear the overhead resistance.
