$ORCL sees GoNoGo Trend paint a new aqua “Go” bar.
After a “NoGo” correction stemming from a massive gap down in Mid December, prices have rallied. We have seen a higher low and price has been able to fill the gap entirely. During this time, GoNoGo Oscillator rose to test the zero line from below where it met with resistance and remained at that level for several bars. This caused the climbing grid of GoNoGo Squeeze to climb to its Max. Often, the top of a gap like this serves up strong resistance so as price neared that level it was important to observe. Finally, GoNoGo Oscillator broke out of the Max GoNoGo Squeeze into positive territory and this gave price the push it needed to attack the horizontal resistance. With surging momentum, the first bar of the new “Go” trend was able to close above resistance. A “Go” trend is in place now, confirmed by positive momentum.
