$VLO Looks for New High in “Go” Trend

After an amber “Go Fish” bar of uncertainty, $VLO re-entered a “Go” trend in the middle of April.

A string of weaker aqua bars saw price recover and GoNoGo Oscillator returned to test the zero line from below.  After a GoNoGo Squeeze reflected the virtual tug of war between buyers and sellers at this level we saw positive momentum win out, with GoNoGo Oscillator breaking out of the Squeeze into positive territory.  With this, we saw a Go Trend Continuation Icon (green circle) telling us that momentum is once again resurgent in the direction of the “Go” trend.  In response, GoNoGo Trend is painting strong blue “Go” bars as price challenges prior highs.  We will watch to see if this momentum boost will be enough to help price climb to a new higher high in the coming days.