$DE has been in a “Go” trend since late January when it broke to new highs.
Since then, we have seen a higher high and low as GoNoGo Oscillator found support at the zero line, helping to propel price higher. However, after the last high mid February, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, as price fell from the high GoNoGo Trend painted a string of weaker aqua bars and GoNoGo Oscillator fell to test the zero line from above once more. This time, after several bars riding that level, we see that the oscillator broke out of a GoNoGo Squeeze into negative territory. This preceded GoNoGo Trend painting a first amber “Go Fish” bar of uncertainty. With GoNoGo Oscillator in negative territory, we will watch closely to see if a new “NoGo” trend takes shape, and if it does, we may expect price to fall through horizontal support to a new low.
