$K had been in a “NoGo” for some time, since early June.
However, after setting a new low, price rallied and then has moved mostly sideways with price movement continuously shrinking on the daily chart. After hitting horizontal resistance, we see that resistance has remained constant and the lows have edged ever higher. When we look at the lower panel, we see that GoNoGo Oscillator broke out of an extended Max GoNoGo Squeeze and has since been able to repeatedly find support at the zero line, telling us that momentum was out of step with the the “NoGo” trend. Finally, after GoNoGo Oscillator again found support at zero and GoNoGo Trend painted some amber “Go Fish” bars of uncertainty, we see the trend indicator painting a fresh aqua “Go” bar. With the trend now aligned with momentum, we will watch to see if price can climb above resistance to set a new higher high.
