The dollar index looks as though it is trying to form a base, As we noted in an issue of Flight Path a few weeks ago, there was bullish divergence between the “NoGo” in price and the GoNoGo Oscillator. Price made a new lower low but the oscillator did not confirm, instead making a higher low.
Since then, the GoNoGo Oscillator has been able to get into positive territory and has found support at zero after retesting that level.
Price, while still in a “NoGo” trend, has set a new higher high and higher low. We will have to see if the “NoGo” trend can hold.
By
Alex Cole
