Our forecast for Caterpillar suggests that the green wave [C] is currently being developed. We reckon with further price drops in the short term before the beige wave IV can conclude. The pending low should then initiate a trend reversal, which should enable an upward move above $402.16. However, in the context of our 35% probable alternative scenario, the trend would reverse earlier. In this case, the beige wave alt.III would form a new high above $402.16.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.