Let the Cat out of the bag

The Weekly chart of $CAT (Caterpillar Inc) shows that price is at a critical point here as it hovers on this Horizontal Support line:

The RSI is near 30 which normally signals an oversold condition – Dip Buyers typically show up in droves. I have been patient with this one, waiting for it to show me that it truly wants to bottom – or fall through this support line.

Either way, I am ready for this cat to get out of the bag.

Description above courtesy of Phrases.org.uk

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