$CWH facing resistance test in max GoNoGo Squeeze

$CWH facing resistance test in max GoNoGo Squeeze


October 2022


Alex Cole

$CWH price has rallied from late September lows, enough for GoNoGo Trend to paint weaker pink "NoGo" bars.

As it rallies, it runs up agains resistance in the form of a horizontal level that has been both support and resistance back to June.  This is the concept of polarity in action. As important, and from a GoNoGo perspective, GoNoGo Oscillator has hit resistance of its own in the form of the zero line and as it remains at that level we see the GoNoGo Squeeze grid climb to its max.  We will watch closely to see in which direction it breaks out of the squeeze.  All else being equal, we'd expect the oscillator to be rejected by the zero line, and a new leg down in the "NoGo" trend.