$CAT has been in a “Go” trend since early June.
However, after hitting a high in early August, price has moved mostly sideways since. At the high we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Following that, we saw a string of weaker aqua “Go” bars, but of late there has been a return to strength as the indicator paints strong “Go” colors. This strengthening has coincided with GoNoGo Oscillator breaking back into positive territory, confirming the “Go” trend again. At the moment, the oscillator is testing the zero line from above, where we will look for support. If it finds it, we will look for price to make an attack on a new high.
