$CB is emerging out of a correction that brought prices to new lows.
Now, we see that the technical environment is changing again. About a week ago, GoNoGo Oscillator broke out of a Max GoNoGo Squeeze into positive territory. This told us that the tug of war between buyers and sellers at this level had been won by the bulls. As momentum turned positive, GoNoGo Trend stopped painting “NoGo” colors and painted an amber “Go Fish” bar representing uncertainty in the current state of trend. The indicator painted a string of “Go Fish” bars as momentum rallied further into positive territory. Now with price edging to new higher highs, GoNoGo Oscillator is at a value of 3, positive but not overbought and GoNoGo Trend has painted a first “Go” aqua bar. With momentum now in the direction of the underlying new “Go” trend, we will watch to see if this gives price the push it needs to climb to test prior highs from March.
