$ESS entered a new “Go” trend earlier this month.
Since then, it looks to have failed to deal with overhead resistance coming in the form of prior lows in the previous “Go” trend and highs in the most recent “NoGo” trend. This is a display of polarity as levels that were support become resistance and vice versa. In the new “Go” trend price has tried already but failed to stay above that level. However, GoNoGo Oscillator continues to find support at zero indicating momentum is in line with the “Go” trend. As GoNoGo Trend paints a strong blue “Go” bar at resistance, GoNoGo Oscillator is bouncing back into positive territory. With momentum resurgent in the direction of the “Go” trend, we will look to see if price can finally clear the resistance and make another higher high. If it does, we will look at the prior high from late November as a target.
