$CAT is in a “Go” trend but has just corrected from its most recent high.
After the high at the end of 2023, we saw a Go Countertrend Correction Icon (red arrow) that indicated decreasing momentum and that price may struggle to go higher in the short term. A few bars of weaker aqua “Go” colors followed, and GoNoGo Oscillator fell to test the zero line from above. If this “Go” trend is to remain healthy, we would expect the oscillator to find support at the zero line. As GoNoGo Trend shows that the trend has strengthened to paint blue bars, we see the beginning of a GoNoGo Squeeze as GoNoGo Oscillator remains at zero. This shows the start of a tug of war at these price levels. We will watch to see in which direction the Squeeze is broken. If GoNoGo Oscillator breaks out of the GoNoGo Squeeze into positive territory, then we can expect trend continuation and an attempt at a new higher high.
