Technical analysis

Caterpillar Wave Analysis 28 March 2024

– Caterpillar rising inside sharp impulse wave 5

– Likely to rise to 370.00 and 400.00

Caterpillar rising inside the sharp weekly impulse wave 5 of the long-term upward impulse sequence (3) from the start of 2023.

The price earlier broke above the minor resistance level 363.80 – which should add to the bullish pressure on Caterpillar.

Given the clear daily and the weekly uptrends, Caterpillar can be expected to rise further to the next resistance level 370.00 – followed by 400.00 (target for the completion of the active impulse sequence (3)).

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