Market Analysis With Megh Mody

 Gold anticipated on 14th Oct 2023 Gold happened on 28th Nov 2023 Analysis In my prior article, I noted that "Gold prices have the potential to climb higher and may reach the $2025-2030 range in the short to medium term." The yellow metal indeed surged towards $2150 levels, surpassing my projected range of $2025-2030 when it was initially trading at $1933 - the anticipated outcome. To read my previous article on Gold, click on the link below https://www.marketanalysiswithmeghmody.com/2023/10/gold-and-elliott-wave-counts.html Presently, prices are following a flat pattern, having completed wave a of wave b, and this wave b is identified as a flat. The next movement could reach a minimum of 80%, translating to $2090 levels, or it might extend to $2150 levels or beyond. Clear-cut indications point towards prices fluctuating within the $2100-2150 range. Currently, prices are recorded at $2053 levels. To sum up, Gold prices display a positive outlook and are expected to fluctuate

 MCX Copper anticipated on 21st Oct 2023 MCX Copper happened on 14th Dec 2023 Analysis In my earlier article, I expressed the view that MCX Copper prices would undergo a trend reversal after forming an accumulation pattern at the bottom. As anticipated, prices have indeed shifted direction and, notably, have successfully surpassed the resistance level. To read my previous article on MCX Copper, click on the below link https://www.marketanalysiswithmeghmody.com/2023/12/mcx-copper-change-of-trend-underway.html With a clear bullish breakout from a descending channel, it's evident that MCX Copper prices are poised for a positive trajectory in the foreseeable future. The red metal is expected to explore levels between 760 and 777, representing the 61.8% to 80% retracement of its previous decline. From a wave analysis perspective, the ongoing upward movement could be classified as wave c, following the completion of wave b in three legs (a-b-c). However, definitive evidence supporting it

 Nikkei 225 Anticipated on 21st Oct 2023 Nikkei 225 Happened on 15th Nov 2023 Analysis In my prior article, I indicated that the Nikkei 225 showed a moderate positive outlook, suggesting a potential move to test 33000 levels as long as support at 30700 held. Despite a brief dip below 30700, the index swiftly rebounded, reaching my target of 33000—accurately predicted. To revisit the detailed analysis, you can access my previous article on Nikkei 225 through the following link: https://www.marketanalysiswithmeghmody.com/2023/10/nikkei-225-anticipated-happened.html . The chart illustrates a concerning lower high and lower low pattern, indicating a negative trend. In the recent week, the index closed near the resistance of a descending channel and encountered obstacles at the prior swing high of 33877 levels. Additionally, a bearish island reversal pattern has formed according to candlestick analysis. Examining the wave perspective, prices are currently in wave c, with wave i concluding a

 MCX Crude Oil 4 hour chart Analysis According to the presented chart, the price movement of crude oil shows a consistent pattern of lower highs and lower lows, suggesting a prevailing negative bias. Notably, there was a recent breach of the previous low following the Crude Oil inventories report, leading to a decline towards the 5787 levels. Despite this, there is a potential for a relief rally or a reversal to occur at the current levels. Examining the Waves perspective, Crude Oil exhibited a three-leg pattern (A-B-C), with wave C concluding at 161.8% of the distance from wave A to wave B, as illustrated in the chart. Within wave C, there are distinct markings of five waves, hinting at the imminent completion of the downtrend. In summary, it is suggested that MX Crude Oil could experience a relief rally or a reversal in the vicinity of these levels, with the potential to test the 7000 levels in the future . Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter handle