I'd go for another one of the elemental punches to be honest. Perhaps Thunderpunch to help get past things like Starmie and Slowbro. Alakazam is just too frail to set up Reflect or Barrier tbh. Though if you are choosing between the two definitely Reflect.
Fire Punch was chosen to prevent her from being walled by Steels. I could just do Psychic and all 3 punches though.
For reference, here is my entire team. I want it to be good because I'm going to use it for Stadium 2.
1) Sneasel
Shadow Ball
Hidden Power Fighting
Blizzard
Frustration
2) Crobat
Fly
Toxic
Giga Drain
Confuse Ray
3) Magneton
Thunder
Hidden Power Water
Thunder Wave
Rain Dance
4) Gengar
Hypnosis
Dream Eater
Shadow Ball
Thunderbolt
5) Alakazam
Psychic
Fire Punch
Barrier
Recover
6) Feraligatr
Surf
Ice Beam
Earthquake
Cut