$TPL entered a “Go” trend at the beginning of the year.
Since then, we saw prices soar to highs in February as strong momentum pushed the trend forward. After the high, we saw two Go Countertrend Correction Icons (red arrows) indicating that price would struggle to go higher in the short term. Indeed, price has moved sideways on shrinking trading range since then. During this consolidation, we see that GoNoGo Oscillator fell to test the zero line from above and it got embroiled in a battle at that level. As it rode the zero line, we saw a GoNoGo Squeeze build to its Max, reflecting the tug of war between buyers and sellers at this level. Now, GoNoGo Oscillator is breaking out of the Squeeze back into positive territory. This gives us signs of Go Trend Continuation (green circle) telling us that momentum is resurgent in the direction of the “Go” trend. We will watch to see if this gives price the push it needs to break above resistance to new higher highs.
