$VTR had been in a “NoGo” trend since January.
Now, as prices stabilize we see what looks like a basing pattern. After the lowest low a month ago, we have seen consecutive higher lows. Price has run up against resistance several times and as of yet has not been able to make a higher high. During the right side of this basing pattern, GoNoGo Oscillator has been challenging the zero line from below and after an extended Max GoNoGo Squeeze has broken through into positive territory. During this period of price constriction and reduced volatility, we saw GoNoGo Trend paint an amber “Go Fish” bar indicating market uncertainty. We now see a first “Go” aqua bar, as price pushes up against overhead resistance once again. With momentum no surging in the direction of this new “Go” trend, we will expect price to continue to challenge these resistance levels and potentially set a new high as the “Go” trend strengthens.
