The CPI report released yesterday surprised the market participants with worse-than-expected results.
The higher inflation weakened the stock market and caused a huge sell-off.
Caterpillar Inc was not spared. The price dropped more than 4 % and closed below the 0.236 Fibonacci.
Continuation of the downtrend and re-test of the $ 167 support level is expected.
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The higher inflation weakened the stock market and caused a huge sell-off.
Caterpillar Inc was not spared. The price dropped more than 4 % and closed below the 0.236 Fibonacci.
Continuation of the downtrend and re-test of the $ 167 support level is expected.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.