$BAC has been in a “NoGo” trend since late February.
We have seen a series of lower highs and lower lows since the. GoNoGo Oscillator has been primarily at or below zero during that time confirming the “NoGo” trend. After the last lower low, we have seen price rally and GoNoGo Trend has painted weaker pink bars. The rally lasted right up to horizontal resistance from prior lows that you see on the chart. This is an important moment as this level gets tested and GoNoGo Oscillator rides the zero line causing a Max GoNoGo Squeeze to build. This reflects the virtual tug of war at these levels. We will watch closely to see in which direction the Squeeze is broken. If GoNoGo Oscillator Oscillator falls back into negative territory as price fails at resistance, we will expect price to fall and potentially test recent lows.
