Late-last month, I mentioned that I did not want to see Caterpillar lose $85 again, what with its negative long-term implications.
Updating the monthly timeframe below, the bearish “M+A” pattern is still in play. And the more major support is probed in the low-$80’s, the more likely it is to now give way.
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On the daily for $CAT, it looks like a head and shoulders with the neckline at 84.50. downside target 70-ish.
good eye