This may well be a classic of what Gann termed, when the time is right the mkt turns.
Gold topped in Aug 2020. the next bottom was Mch 21…8 Months, next top was Mch 2022…13 Months…(8 and 13 being Fib No’s )…so we have big Odds that the next Bottom will be 8 months ….targeting October 22…..well it got carried away and bottomed a day early on Sep 30…
The news I might add could not be more bullish…….but no-one is long, this is just some shorts trying to cover….I bet loads are still shorting, as that has been the easy money for over 2 1/2 yrs.