$IFF had been in a “NoGo” trend since late July.
Price had seen lower lows and lower highs as it had fallen to under $60 at the most recent low. Following that low, we saw GoNoGo Oscillator rise to test the zero line from below and GoNoGo Trend paint weaker pink bars as price rallied. After breaking through zero into positive territory, GoNoGo Trend painted a series of amber “Go Fish” bars, reflecting market uncertainty over the direction of the trend. Now, with GoNoGo Oscillator turning back up into overbought territory, we see GoNoGo Trend paint a first aqua “Go” bar. We will watch to see if price can consolidate here, and set up for an attack on a new higher high. For this, we would look for GoNoGo Oscillator to stay at or above the zero line, and GoNoGo Trend to find strength with bright blue bars.
