Head and shoulders - All share -3 month chart

[Hali]

Is it me or is there a head and should formation on the all share 3 month chart? Could we expect another leg down?

[Rams]

Head and shoulders? i think the body comes before the leg down?

[Penny_Pincher]

I see a descending triangle with market battling to breakout through the upper slope at around 47000

[Rams]

47000 on ALSI , crunch time

[Rams]

If there is no retrace around theses level, then going through 48 600 (on ALSI daily chart) , will form a reverse head and shoulder pattern. Which corresponds to formation of Elliot waves 2 and 3 of the uprun.

[Rams]

So , we have the RETRACE

[Rams]

Down 900 points