jangseohee
Long

Neckline = Channel Bottom

NYSE:CAT   CATERPILLAR INC DEL
36 0 0
Since making a TOP in May 2011 around 117, Caterpillar wasn't able to make another high, it merely retest previous top and subsequently freefall to ard 80.
From the latest development, price of caterpillar is engaged in a downtrend channel .
Coincidentally, a 100% Head & Shoulder pattern just formed after friday's closed, moreover, the neckline is also part of the channel bottom support.
We will see on Monday how strong the support is.
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