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Caterpillar Inc., Technical Analysis

11/2/2022 11:28 AM

The shares of Caterpillar Inc., a global manufacturer of construction and mining equipment, are moving within a global corrective trend at 190.00.

On the daily chart, a global Expanding formation pattern with dynamic boundaries of 156.00–260.00 is forming, within which an ascending wave is developing.

On the four-hour chart, it can be seen that the reversal towards growth has already been finally formed, as evidenced by the price gap of 198.00–211.00, which is often a sign of the beginning of a new trend.

Technical indicators confirm the development of upward dynamics: fast EMAs on the Alligator indicator expand the range of fluctuations, and the AO oscillator histogram forms upward bars, rising in the buying zone.

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