CAT broke through the 85.81 range high (February 18, 2015) to complete a 3-month double bottom
at 78.81/78.25 before consolidating. The bullish
indicators suggest there is scope for further upside. A swing low above the 83.09/81.54 support zone
remains favored ahead of further strength through 87.50 ( April
23, 2015 high) to open 89.28 (January 8, 21015 lower high). Above there would expose the 94.66 lower high (December 26, 2014) near the 200 day moving average. However, a break below the 81.54 area would prolong the consolidation and retest the 78.76 support (March 27, 2015 low).
Short term: bullish
Long term: neutral