This long-term chart looks at the relationship between Caterpillar 
CAT and front-month crude oil futures
The week so far has seen a few points shaved off CAT's 30% rally since election day, when it hovered around its 50 week average. The stock has been pounding against 5 year resistance while mostly shrugging off weakness in Crude. But with no clear path ahead for oil prices and an uphill battle for any infrastructure bill through Congress, can CAT bust through the trend line and "grow into its multiple" as so many analysts predict?
CAT/
CL1!
CAT and front-month crude oil futuresThe week so far has seen a few points shaved off CAT's 30% rally since election day, when it hovered around its 50 week average. The stock has been pounding against 5 year resistance while mostly shrugging off weakness in Crude. But with no clear path ahead for oil prices and an uphill battle for any infrastructure bill through Congress, can CAT bust through the trend line and "grow into its multiple" as so many analysts predict?
CAT/CL1!
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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.