The GoNoGo Oscillator has broken below zero which is a concern for the “Go” trend we are in.
The GoNoGo Trend indicator is also showing weakness via paler aqua bars.
Price may attempt a retest of the rising trend line and resistance there would likely coincide with the oscillator getting turned away by zero. If this happens then it is likely the GoNoGo Trend will be unable to remain a “Go”.
Of course, ultimately, the trend is still a “Go” at this time but we are seeing potential for a move down.
By
Alex Cole
