Hubert Senters here.
Let’s take a look at Caterpillar, CAT. As you can see it’s crossed above the cloud or maybe you can’t see. Maybe I should zoom in so you can see that. It had a nice little cross above the cloud, a ramp up, a pull back to the turning line, one close above, one close below, one close back above. And now it’s taken out that most recent high.
Then all you have is just look back in the past a little bit see where you’ve got some overhead resistance. You know, you’ve got some overhead resistance right here, one, two, three, four, you can count them. If it can get through that area at $159 and it’s probably going to go to about $170.
If you want to be nitpicky you could say well, its first it is going have to stop at $163 so I would say break the $159 that goes to $163 and then $170 and then after that you can re-calculate and see if it will go higher than $170.
I’ve been asked to speak at the Wealth365 trading and investing summit. That’s going to happen October 8th to October 13th. All you have to do is REGISTER here with your first name, email address and then click this big yellow button right here and that will register you for the webinar.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
