VasilyTrader

CATERPILLAR (CAT) Flag Breakout & Bullish Continuation

Long
NYSE:CAT   Caterpillar

hey guys,

on a mid-term perspective caterpillar is trading in a bullish trend.
at the beginning of June, the correction started and for the last two weeks the price was steadily going down within a falling channel
but NOW it looks like the market is returning to a trend.

the price broke above a resistance line of a bullish flag formation.
the breakout is considered to be confirmed and we now can expect a further bullish continuation.

target levels:
128.8
131.5

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