ET at inflection point on GoNoGo Oscillator

We looked at this one last week. We noted that it seemed to be forming a basing pattern but that there was strong resistance at the runaway gap highlighted by the shaded grey zone.
Since we looked at it, the price chart remains a “Go” although the bars are the weaker pale blue color. What has happened in the few days since we lsat checked, the GoNoGo Oscillator has fallen and is riding the zero line.
It is critical to watch this inflection point. If the oscillator can find support again here again and rally then we expect price to rally and test the lower bound of that gap, around 8.63.
Of course, if the oscillator doesn’t hold the zero line, that will suggest bearish momentum and so the “Go” trend will be in doubt
Comment: The GoNoGo Oscillator has fallen back to zero and looking to find support from above. The trend is still "Go" but we want to see this support hold. We saw the gap from early March provide significant resistance already and so any rally from here would have to deal with that. If we can get above the resistance from the gap (shaded channel) that is bullish for the "Go" trend to continue longer term.

Extended free trial available of GoNoGo Charts Pro!
See website or comment below.


Can you update this chart, thank you!
@perissi, Sure thing! just did. Thanks for commenting.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out