$C has been in a “Go” trend for several months.
We have seen a series of higher highs and higher lows. After the last high earlier this month we saw a Go Countertrend Correction Icon (red arrow), indicating that price may struggle to go higher in the short term. That pullback was deeper than some might have expected and GoNoGo Oscillator broke below zero on heavy volume as GoNoGo Trend was unable to continue painting “Go” colors, for a time giving way to amber “Go Fish” bars of uncertainty. As GoNoGo Oscillator rallied back toward the zero line from below, the “Go” trend returned. When the oscillator was able to break back above zero into positive territory GoNoGo Trend painted strong blue bars once again. Now, with momentum resurgent in the direction of the “Go” trend, we will look for price to make an attempt to rally up to and potentially beyond prior highs.
