Gold peaks and continues to fall!GoldOANDA:XAUUSDBasilAlice Today is Thursday, September 18th. Has gold fallen? We've been emphasizing from the weekend, last weekend, and even yesterday that the peak for gold is just above the 3700 mark, with the upper limit at 3750. The moment the Fed cuts interest rates, gold will fall. We've been saying this over and over again. I wonder if you've listened! I remember emphasizing in videos and articles at the beginning of the month, around September 1st, that gold would remain bullish until the Fed's interest rate decision on September 18th. The turning point for this round of bullish and bearish sentiment was around the September 18th decision. Those who listened carefully definitely made money during this period. Yesterday, after the Fed data was released, gold prices fluctuated wildly, hitting a low of 3651, a high of 3707, and finally a sharp dive to 3646. Are there any investors who are waiting in the wings? The main reason for yesterday's bull-bear market shakeout in gold was the influence of Powell's speech: one moment, he said that job growth has slowed and downside risks are increasing; the next, he said that inflation has recently risen, but remains slightly elevated. Therefore, gold's volatility is erratic. Because such statements are subject to significant uncertainty and contingency, the market is bound to be unstable and risky, so avoid them if possible. Gold is a product driven by both technical and news factors. Experience is crucial. We've seen all sorts of ups and downs, right? When should we trade and when should we not? You've only been in this market for a few days, while we've been in it for years. Don't question my expertise with your speculation. Many people keep asking: Why did gold fall instead of rise after the Fed cut? The key lies in whether this bull market has completed. From 3313 to 3700, the price has risen by nearly $400, exceeding historical gains for the same period. Upside potential is limited. Expectations of a Fed rate cut have already been fulfilled, and the actual implementation will be the time for bulls to take profits. If you're still foolishly waiting for a rate cut to become bullish, it's already too late. Next, gold will undergo a bullish correction. Once the correction is over, the next bullish rally will begin. There are two key support levels to watch below: 3580 and 3550. The extreme retracement level is 3511. As for gold today, a bearish outlook is definitely in order. The rebound to the 382 resistance level at 3670 at 7:30 this morning was a reason to go short, but it was so early in the morning that many people may not have reacted. Now that it has fallen below the early morning low of 3645, a rebound could lead to a second bearish trend, with the possibility of a continued decline. Support below is around 3626-3615, and the potential downside limit for today is estimated to be around 3600.