Holly Energy Partners sees a new “Go” trend emerge after a “NoGo” correction that lasted a few months.
Given that we have seen rotation into energy in the past week or two perhaps $HEP is ready to catch up with a rally of its own. We see that after riding the zero line for several bars, GoNoGo Oscillator has edged into positive territory on heavy volume as we see the color change in the price panel. If this momentum continues, the oscillator will stay in positive territory and we’ll look for price to set a new higher high.
