Suncor energy Inc looks for a new high.

Suncor energy Inc looks for a new high.


November 2021


Alex Cole

Suncor Energy Inc looks for a new high as the “Go” trend continues.
After the most recent high, we saw a “Go” Countertrend correction red arrow signaling the possibility of a short term correction against the trend. Since, price has moved gradually lower as the GoNoGo Oscillator fell to the zero line.  Lack of volatility and neutral momentum caused the oscillator to “ride the zero line” and the grid of the GoNoGo Squeeze to climb to its extreme.  The current bar sees the oscillator break out of the squeeze into positive territory which tells us that momentum has returned in the direction of the “Go” trend.  We will look to see if price can set a new high above $27.