Catepillar Wave Analysis – 12 December, 2019

• Catepillar reversed from support area
• Likely to rise to 146.00

Catepillar recently reversed up from the support area lying between the support level 139.00 (former resistance from July) and the lower daily Bollinger Band.

The upward reversal from this support area started the active medium-term impulse wave (3).

Catepillar is expected to rise further toward the next resistance level 146.00 (top of the previous wave B from November).