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ALSI Analysis | 12 March 2018

March 12, 2018

Hi Traders.

 

My predictions last week seem to be a put on hold for the moment as I predicted it would be on its way down to the psychological support level at around 46 000, but it has since retraced upwards and seems to more likely that it will be on it's way up than anything else.

 

 

It seems to now be trading in an upward channel that it has formed over the last two weeks.If it remains trading in this channel, we could possibly see it finding resistance around the 53 500 level and then bouncing downwards to possibly hit support around the 51 300 level.