$META sees GoNoGo Trend paint an amber “Go Fish” bar.
As prices have rallied since the lows in August, we see GoNoGo Trend unable to maintain the colors of a “NoGo” trend. An amber bar, tells us that there are not enough conditions being met to identify either a “Go” or a “NoGo” and so the market is uncertain. However, if we look to the oscillator panel we can get clues about prices next trend. GoNoGo Oscillator recently broke back above the zero line and out of a Max GoNoGo Squeeze. This suggests a tug of war that was won by the bulls, and now we have positive momentum for the first time since the “NoGo” correction took hold. We will watch to see if this positive momentum is enough to send GoNoGo Trend into “Go” colors as price tries to climb to new highs.
