ECOL Analysis for 12.11.2006

Monthly chart shows profit taking at the highs. Last 3 months showed indecision.

Price testing the prior lows, with buyers showing up at the 89sma support.

Panic selling at the open with a gap down on Friday, creating a hammer candle right at the .886 fib level. Today, sellers gapped it down from Friday's close, but sellers took it up to close the gap. Look for the current low to hold and to have continuation upwards.