We noted that Conoco Phillips had entered a “Go” trend several days ago.
Now, the GoNoGo Oscillator has fallen to the zero line, meaning that the momentum inputs to the GoNoGo Oscillator are all in neutral territory. If this new “Go” trend is to hold, then we will expect to see the GoNoGo Oscillator find support here, and for momentum to come back in the direction of the trend. If that happens we will see a Go Trend Continuation icon (green circle) displayed under the price bar. Price is also at support from the trendline.
