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A Dead '$CAT' Bounce, or What?

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Caterpillar Inc. (CAT) is up more than 4% today, and while its pop coincides with a Wall Street firms upgrade to "Mixed" from "Negative," one look at the enclosed weekly chart from 2007 suggests strongly that CAT has some serious work to do on the upside prior to triggering an intermediate-term buy signal. Heavy resistance resides from 68.80 to 74.25, which if hurdled and sustained, will confirm a bottom, and although CAT might have put in a Sept-Dec double bottom at 62.99 and 64.10 in

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