Catepillar Wave Analysis – 11 August, 2020

• Catepillar broke key resistance level 140.00

• Likely to rise to 150.00

Catepillar earlier broke above the key resistance level 140.00 (former strong support from December, which has been steadily reversing all upward impulses from February).

The breakout of the resistance level 140.00 accelerated the active upward impulse sequence (3) from the end of June.

Catepillar is likely to rise further toward the next resistance level 150.00 (former multi-month high from January).