$CAT Chart Idea

Tough to say which direction the daily chop breaks out of, however my main theory is that we will see a test of both the support and resistance TL's at least once before a breakout of this consolidation. The reason I say this is because we only have two points confirming the TL on both sides so far and it looks like we will consolidate in this pennant for the better part of July so we have some time.