Market Analysis With Megh Mody

 MCX Natural Gas 4 hour chart Analysis From the above chart, prices are moving in a diamond shape pattern which recently got completed as it broken the lower trend line of the pattern. Prices are currently trading at 213 levels and the target based on the pattern comes to 182 levels.  As per wave theory, prices have completed Neo wave diametric pattern which can be a continuous pattern or a reversal pattern. In the above case it is a reversal pattern. There are high chances that prices will falter towards 195 levels where cluster of supports are placed. The summation is MCX Natural Gas is firmly negative as it can falter towards 195 levels over short term. Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter handle :  https://twitter.com/meghmody? s=11&t=LtKvFYlMyQs71k-udwEPgQ

 Nikkei 225 daily chart Analysis From the above chart, Nikkei 225 has completed five waves up in which third wave was the biggest wave and that is the reason fifth wave was a truncation or a fifth failure. Now since five waves are completed chances are much higher that correction will follow which can drag prices below its previous sing ow placed at 31250 levels. The summation is Nikkei 225 is firmly negative and can sink towards 31250-31000 price range over short term. Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter handle :  https://twitter.com/meghmody? s=11&t=LtKvFYlMyQs71k-udwEPgQ

 MCX Copper Daily Chart Analysis As seen in the above chart, prices corrected from the top of 794 levels and made a swing low at 696 levels, thereafter it moved higher with slow momentum but could not cross its previous high of 794 levels as it topped out at 757. This concludes that the lower high is formed. From Waves perspective, the first fall was corrective in nature (a-b-c) which completes wave a at one higher degree. The counter correction is a part of Neo Wave Neutral triangle where five legs are marked (a-b-c-d-e) this completes wave b at one higher degree and now wave c is in motion which is impulsive in nature and can move back down towards 696 levels. The summation is MCX Copper is negatively poised and can move down towards 696 levels over short term. Join my Telegram Channel :  https://t.me/elliottician1 Join My Twitter handle :  https://twitter.com/meghmody? s=11&t=LtKvFYlMyQs71k-udwEPgQ