Sunday, July 23, 2006

Ashland Inc (ASH) Chart Analysis


Chart shows a 3 wave pattern into $75.17 resistance. The move up shows regular divergence. "Old resistance becomes new support" at $58 range currently holding. No clear chart pattern. Price can go either way.

Current resistance is at $67.61 and support at $57.39.

Daily chart looks a little bearish, as we are below major resistance. I would not be surprised if we go back to test the low at $58 range.

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