$INSW searching for support as “Go” trend weakens

$INSW searching for support as “Go” trend weakens


October 2022


Alex Cole

$INSW has seen price fall since the highs of September.

We saw a Go Countertrend Correction Icon (red arrow) shortly after price reached its high indicating that in the short term price would struggle to go higher.  We have seen the last couple of bars paint weaker aqua color and GoNoGo Oscillator has fallen to and is riding the zero line.  We know that if this "Go" trend is to remain healthy the oscillator should find support at this level.  If it doesn't a deeper correction could ensue.  If, on the other hand GoNoGo Oscillator can break out of the GoNoGo Squeeze into positive territory we would see a Go Trend Continuation Icon (green circle) appear under the price bar, signaling a return of momentum in the direction of the "Go" trend.