$CB has been in a “Go” trend since early November.
Since then, we have seen price climb to over $300. However, after that high later the same month, price moved mostly sideways as GoNoGo Oscillator fell toward the zero line. As GoNoGo Trend sprinkled in weaker aqua bars, the oscillator tested the zero level and got stuck there for several bars. This allowed the climbing grid of GoNoGo Squeeze to rise to its Max, signaling a virtual tug of war between buyers and sellers at these price levels. Now, on heavy volume (the oscillator turning darker blue) we see a break out of the Max GoNoGo Squeeze into positive territory. This tells us that momentum is resurgent in the direction of the underlying “Go” trend. GoNoGo Trend is again painting strong blue bars as this increase in momentum has given price the push it needed to climb above resistance to a new higher high. We will watch to see if price can consolidate this move, and find prior high support going forward.
