As promised here are the monthly and weekly charts for CAT. Took a position yesterday on the test of $2.20.
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After peaking in July/August last year price retraced until February - April where it ranged (traded sideways). There was one final shakeout in May before standing "loud & proud" in June.
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Support started to enter in the 2nd week of December, but it wasn't until April that it can be said to have found temporary support @ $2. The last week of May saw a high volume shakeout, the first week of June was a test of supply, with the second week confirming the test and showing good ease of movement. Week 3 was a test that was confirmed in week 4, with week 5 (the week just ended) contiuing the markup process.
Entry (filled) was placed @ $2.20 with a SL @ $2.10
