A sideways consolidation broke our initial and then the recent, shorter term support line was broken with an amber trend neutral bar.
The GoNoGo Trend is now painting pink bars, the first bars of a .
This move came as price broke out of a squeeze as you might expect. Look at the lower panel to see the climbing squeeze grid that reflected this stalling momentum.
The GoNoGo Oscillator is currently oversold, so we can expect a short rally back toward the . However, the trend is now a “NoGo” in the short term.
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