CAT Wave Analysis – 12 January, 2023

• CAT broke resistance levels 240.00 and 245.00

• Likely to rise resistance level 260.00

CAT continues to rise after the earlier breakout of the resistance levels 240.00 and 245.00 (which have been reversing the price from the start of 2021).

The breakout of the resistance levels 240.00 and 245.00 accelerated the active weekly upward impulse wave (3) from the end of last year.

Given the clear weekly uptrend, CAT can be expected to rise further toward the next resistance level 260.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: CAT

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