In early October, $META price fell out of its last “Go” trend.
First we saw multiple Go Countertrend Correction Icons (red arrows) at the high, and then GoNoGo Oscillator was unable to find continued support at the zero line. After breaking out of a GoNoGo Squeeze into negative territory we saw price continue to fall from the high and eventually a “NoGo” move that saw price fall to a new low. Now, after a few bars stuck at zero again, GoNoGo Oscillator has broken back into positive territory as GoNoGo Trend paints a first “Go” bar. This tells us that momentum is in line and resurgent in the direction of the new “Go” trend and we will watch to see if price can challenge overhead resistance. With momentum on its side, we will look for price to make an attempt at a new high in the upcoming days and weeks.
