$MSI has been in a “Go” trend and hit another higher high toward the end of May.
Last week we saw price fall from that high and GoNoGo Trend painted a series of weaker aqua “Go” bars. During this correction, GoNoGo Oscillator fell to the zero line and even dipped its nose into negative territory. On the next bar, it quickly regained the zero level and then crossed back into positive territory as price rallied. Now, we see three consecutive strong blue “Go” bars and pushing price up close to the prior high. With GoNoGo Oscillator back in positive territory, we can say that momentum is resurgent in the direction of the “Go” trend and we will look for price to make an attempt at a new higher high.
