$CMS has been in a “Go” trend since mid July.
Since then, we have seen a series of higher highs and higher lows as price has climbed over $70. On the most recent high, we saw a Go Countertrend Correction Icon (red arrow) indicating that momentum has waned, and in the short term price may struggle to move higher. Indeed, since then, we saw GoNoGo Trend paint a series of weaker aqua “Go” bars and GoNoGo Oscillator fell to and broke through the zero line into negative territory. Importantly, GoNoGo Trend continued to paint “Go” bars, and now, as GoNoGo Oscillator bursts back through the zero line into positive territory, we see GoNoGo Trend painting strong blue bars as price threatens the prior high. With momentum resurgent in the direction of the “Go” trend, we will watch to see if this gives price the push it needs to break to a new higher high.
