Methanex Corp is a large producer and supplier of Methanol. After a “NoGo” correction we saw GoNoGo Oscillator break above the zero line in December and then find support at that level. The GoNoGo Trend indicator then was able to move out of the NoGo colors and paint blue “Go” bars. After a quick move up to levels that were prior highs GoNoGo weakened to aqua bars as GoNoGo Oscillator fell to the zero line on heavy volume. It looks to have found support once again. We will look for price to set a new swing high and perhaps test the highs of last October.
By
Alex Cole
