Caterpillar Inc. (CAT) stock price recorded continued gains in its latest intraday trading, under full dominance of the main medium-term upward trend, with price action moving along a minor supportive trend line in the short term. The stock is also benefiting from continued trading above its SMA50, which provides dynamic support and enhances the chances of extending gains in the near term, especially with incoming positive signals from the RSI.

Therefore we expect the stock price to rise in upcoming trading, as long as the $626.80 support level holds, to target the first resistance at $738.60.

Today’s price forecast: Bullish

The price of (crude oil) continues its fluctuating trading on its last intraday trading, affected by its leaning on minor trend line support on the short-term basis, supported by the emergence of positive signals from relative strength indicators, which helped the price to settle after steep bearish wave on short-term basis, beside the negative pressure due to its trading below EMA50 that prevents the price recovery.

The price of (silver) keeps its early gains on its last intraday levels, retesting previously broken main bullish trend line on short-term basis, amid the continuation of the dynamic pressure that is represented by its trading below EMA50, reducing the chances of sustainable recovery on near-term basis, especially with the relative strength indicators reaching overbought level, exaggeratedly compared to the price move, indicating a quick fading to the bullish momentum.

The price of gold extended its early gains on its last intraday levels, supported by the emergence of positive signals from relative strength indicators, noticing that these indicators have entered overbought levels, exaggeratedly compared to the price move, indicating a quick decline in the bullish momentum, and it retests the previously broken minor bullish trend line, besides the continuation of the negative pressure due to its trading below EMA50, which threatens any current or upcoming gains.