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).

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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