SMM News: gold falls after the top 2089.20 of the 72-day cycle, and then meets the minimum callback requirements after reaching the target average price and the bottom of the channel. The weakness at the end of September offers an opportunity for a short-term rebound, but that doesn't mean the 72-day low is fully established and the market still has a chance to test its recent lows again.
For bulls, if you want to know the course of reversing the trend, you need to rise above 1985.10, which is the level that you need to keep a close eye on in the next few trading days.
In the medium term, there are two possible trends for gold. One is that it has hit bottom in September, which requires the confirmation of 1985 breaks, and the other is to hit a new low again. No matter what the outcome, the medium-and long-term trend will eventually retry strength is an inevitable choice.
Once the current round of adjustment is over and enters a new rally, it will also be announced that the medium-term head-the top of the 310-day cycle-will be completed in the coming months. However, as far as the price itself is concerned, the bulls still need not worry before reaching 2212-2340. A large level of adjustment will not be carried out until the price and time period have achieved the target.
