Potash—H&S Bottom

02/06/2009 2:10 pm EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

Potash Corp. (POT), having fallen from $240 to just under $50, has completed a reverse H&S bottom formation with the action over the past two days. This could be bullish for other commodity-related companies. The low volume is the only negative. Upside projections are in the $110-$120 area.

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