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ALSI Analysis | 13 November 2017

November 13, 2017

Hi Traders

 

I hope everyone had a good weekend, and that you are well rested for the week ahead.

 

The ALSI has continued in it's upward longer term trend, for now. (image 1)

Last week, we saw a break out of the channel on Monday. After it had broken out, it retraced back into the channel for the rest of the week. It is now trading toward the top of the channel and could possibly find resistance around the 54 350 area (image 2)

 

If it turns and starts going downward we can look for possible support at the two moving averages around the 53950 and 53200 areas, or at the bottom of the channel at around 52 300. (image 3)