AEL.N Prediction (2024 June 27)
**Not a BHS recommendation. Just sharing my idea.
AEL.N - The overall trend is uptrend.
In the daily chart, it is creating a correction wave and as indicated in the chart a possible higher low (in the chart it should be corrected as Possible HL) has already been made at 22.9. This is confirmed by both the trendline and Fibonacci retracement tool (0.886 level).
Currently, the market is at 23.9. There is a possibility of moving upwards with the support of the trendline and fib level (0.618) which becomes a support level.
There is weekly resistance as indicated in the red rectangle and daily resistance at 25. If both resistances are broken in the next few days, there is a possibility of creating a new higher high at 29.1 which is confirmed using the Fibonacci Extension Tool.
AEL.N - The overall trend is uptrend.
In the daily chart, it is creating a correction wave and as indicated in the chart a possible higher low (in the chart it should be corrected as Possible HL) has already been made at 22.9. This is confirmed by both the trendline and Fibonacci retracement tool (0.886 level).
Currently, the market is at 23.9. There is a possibility of moving upwards with the support of the trendline and fib level (0.618) which becomes a support level.
There is weekly resistance as indicated in the red rectangle and daily resistance at 25. If both resistances are broken in the next few days, there is a possibility of creating a new higher high at 29.1 which is confirmed using the Fibonacci Extension Tool.
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