$GCP is setting up for a move in one direction or the other!
After rallying out of a “NoGo” we have seen the new “Go” trend stall as price has corrected from the recent high in mid July. This price action caused GoNoGo Oscillator to fall to the zero line where it has stayed, allowing the climbing grid of GoNoGo Squeeze to build to its max. This shows a stalemate between buyers and sellers and little directional momentum. We will look to see if the oscillator can break out of the squeeze into positive territory in which case we’d expect a fresh move higher. A break out of the squeeze into negative territory would of course be a cause for concern.
