$C has been in a “Go” trend since early May.
Since then, we have seen a series of higher highs and higher lows as price has reached a high over $96. After that most recent high, we saw a couple of Go Countertrend Correction Icons (red arrows) signaling that price may struggle to move higher in the short term. Indeed, we saw GoNoGo Trend paint a few weaker aqua “Go” bars as price fell from the high. During that time, GoNoGo Oscillator fell to test the zero line from above and rode that level causing a Max GoNoGo Squeeze to build. This reflects a virtual tug of war between buyers and sellers at this level. We now see the GoNoGo Squeeze is being broken into positive territory as GoNoGo Trend paints strong blue bars challenging for new highs. With momentum resurgent in the direction of the “Go” trend (Trend Continuation Icon, Green Circle) we will watch to see if this gives price the push it needs to climb above resistance.
