MCX-SILVER 1HR SWINGSilver FuturesMCX:SILVER1!Fin_free_figt🟡 1. Chart Title “MCX-GOLD 1HR CHART” — This means the analysis is based on each candle representing 1 hour of price action. ⸻ ⚙ 2. Structure Breakdown •Complex Correction (W–X–Y–X–Z): This shows that gold has been in a corrective phase, not an impulsive move. The correction is labeled as a WXYXZ structure — a complex sideways/downward correction with multiple swings. •Expandable Wedge: The pattern shows an expanding shape, meaning each swing is getting slightly larger. This is a sign of high volatility and often forms before a major breakout. ⸻ ⚫ 3. Key Zones •Supply Zone (around ₹124,000–₹124,600): This is where sellers are expected to enter the market, possibly pushing the price down again. •Invalidation Point (₹124,600): If the price goes above ₹124,600, this current bearish correction view is invalidated, and a bullish breakout could start. •Harmonic PRZ (Potential Reversal Zone): Located around ₹116,800 – ₹113,400, marked at the bottom of the chart. This is a buy zone (demand area) based on harmonic projection — expecting the price to reverse upward from this region. ⸻ 🔁 4. Elliott Wave Labels •Current correction labeled as Wave (4) — After completion, a strong Wave (5) impulse upward is expected. •Sub-waves (a–b–c) are drawn within the correction to show smaller internal movements. ⸻ 📉 5. Expected Move The chart shows two possible paths: 1.Short-term bearish move — Price may fall from the supply zone (~₹122,000–₹124,000) to the harmonic PRZ around ₹117,000. 2.Then bullish reversal — From the PRZ, the chart expects a strong upside rally, possibly toward ₹126,000+. 📈 5. Expected Movement (Summary) 1.Silver is forming an inverse head & shoulders bottom. 2.Currently completing right shoulder formation. 3.Price may dip slightly into the Demand Zone (to form wave B). 4.Then, a strong upward move (wave C) is expected — possibly a bullish breakout. ⸻ 🧭 6. Simplified Forecast Path 👉 Current: Slight drop toward ₹145,000–₹146,000 (Demand Zone) 👉 Then: Reversal and rally to ₹150,000+ (Wave C target) ⸻ 💡 In Short: •Pattern: Inverse Head & Shoulders → Bullish reversal •Support (Buy area): Demand Zone (right shoulder) •Next Move: Small fall → Strong rally •Confirmation: Break above “CHOCH” level confirms the uptrend