Caterpillar’s green wave [X] has further room to run. However, this rise represents only an internal countertrend – the broader correction in beige wave IV is still ongoing. Under our primary scenario, we expect the price to form another low before launching into a sustained advance, which should ultimately push above resistance at $409.40. Meanwhile, our alternative scenario—carrying a 38% probability—suggests that beige wave alt.IV has already bottomed. If that’s the case, the correction is complete, and a direct breakout above $409.40 could follow.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
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🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.