CAT short below $230 (trend line break) to fill the major gap at $207. started to loose momentum already could still have a lil more room to the upside though. If she cannot fully break above AND hold $240 ill be looking for a return to $200. Simple
Bearish on CATERPILLAR INC. Price just reached a previous support zone and failed to break above so Im going to assume it will act as a resistance zone and be looking for this to playout as a large retest after its previous rally. Usually this rising wedge pattern plays out by returning back to the bottom but with the $VIX being $2 short of $30 I womt assume...
Hi everyone, Yurii Domaranskyi here. Let's take a look at the chart:
1. Horizontal Price levels are working good
2. globally downtrend, locally uptrend
3. the price level confirmed by a touch
4. that was a near test, but we see week close under the level
5. approached the level sharply
6. the move was with no rollbacks
7. no accumulation
8. no rollback
9....
🤔 Potential double bottom cup formation, with a higher low on 2nd major structure.
We sit on a very sharp upward support currently, break 128.64 short.
Long the break 140.22
Good luck, 🎲
🥇MLT | MAJOR LEAGUE TRADER
CAT is approaching our first resistance at 141.46 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 132.10 (38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
