$PM has been in a “Go” trend since late last year.
Since then, we have seen a series of higher highs and higher lows as price has climbed to over $190. After the last higher high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price might struggle to go higher in the short term. Indeed, a series of weaker aqua bars followed. With this weakness, GoNoGo Oscillator fell to test the zero line from above. Watching closely, we note that it quickly found support, bouncing back into positive territory. This triggered a Go Trend Continuation Icon (green circle) to appear under price. With momentum therefore resurgent in the direction of the “Go” trend, we see a fresh strong blue “Go” bar as price rises. We will watch this week to see if this boost in momentum gives price the push it needs to mount an attack on a new higher high.
