$C entered a “Go” trend in early May.
Since then, we saw price gap higher and set a higher high before stalling at resistance levels that we have highlighted on the chart. We can see that there is resistance from earlier in the chart in the form of support (when price was in a “Go” trend) and resistance in late March (when price was in a “NoGo” trend). This is the concept of polarity playing out. Having failed at resistance, we saw two Go Countertrend Correction Icons (red arrows) indicating that price may struggle to go higher in the short term. This was indeed the case as price fell and GoNoGo Trend painted weaker aqua bars. When we look to the GoNoGo Oscillator panel, we see that it has importantly held support at the zero line. With GoNoGo Trend once again painting strong blue bars and price rallying up against overhead resistance, we know that momentum is resurgent in the direction of the “Go” trend, and we see Go Trend Continuation Icons (green circles) under price. We will watch to see if this gives price the push it needs to break to new higher highs in the coming days.
