Plug fell out of the Go trend that it was in for much of the last year and has been in an established NoGo trend now for several weeks.
As the NoGo trend was about to take hold, the GoNoGo Oscillator broke below zero and has stayed there ever since, finding resistance at the zero line as we know it should when the NoGo trend is healthy. Now, the recent rally in price has brought price back to levels that have acted as support and resistance before, clusters of supply and demand. At the same time, the GoNoGo Oscillator has risen to zero and we will look to see if it gets turned away again, leading to another leg down in price.
By
Alex Cole
