Caterpillar Inc. has broken through the support line of a Descending Triangle technical chart pattern. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line twice in the last 6 days and suggests a target line to be around 131.73 within the next 7 hours.
Caterpillar Inc. – breach of a trending support line that has been tested at least twice before.
