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Triple Top Forming

May 14, 2018

Hi Traders

 

The channel that the ALSI has been trading in lately is still intact, and the price has been steadily going up the whole week. It has now reached the top of the channel and has closed a gap that had formed over the weekend.

 

 In reaching the top of the channel a triple top has formed which is a very strong sign that it will bounce again downwards towards the bottom of the channel. There has been a lot of resistance in this area in the recent past, so it will most likely struggle to break through and form higher highs for now.