Caterpillar tries to vent off overbought saturation - Analysis - 16-09-2020

Caterpillar's stock fell 3.20% in the last session amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA, while gathering momentum to help it rise anew while venting off overbought levels in the RSI. 

Therefore we expect the stock to return higher, targeting the resistance of 167.37, provided it pierces the pivotal resistance of 150.34. 

Expected trend for today: Bullish