Century Aluminum has been consolidating sideways in a triangle pattern after hitting a high over $30 in early March.
Since then, the GoNoGo Oscillator has fallen to the zero line where it has found support. After bouncing off zero and breaking out of a max GoNoGo Squeeze to the upside later in March, prices ran all the way back close to $30. Now, having cooled once more, GoNoGo Oscillator is riding the zero line where another max GoNoGo Squeeze has been built. We will watch to see now if the zero line holds as support, and if so we will see the Squeeze broken to the upside and a Go Trend Continuation green circle under the price bar. Given this happens, we’d look for price to mount another attack on prior highs. Of course, if the Squeeze is broken to the down side, that would be a threat to the current “Go” trend.