CAT Top Hammer Pattern

Caterpillar has a top hammer pattern on the daily chart.  This is a bearish pattern and may indicate a pullback, which can be a buying opportunity.  The ParabolicSAR study and the Bollinger Bands are indicating that 105 is an interesting area to watch.  Also keep an eye on the gap near March expiration.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.