Gold found support at the 4350 level after a second dip; watch fOn the hourly chart for gold: In the early Asian session, gold stabilized at 4350 and rallied, ending yesterday's downward channel and breaking through the middle Bollinger Band. After a pullback to confirm the middle band in the European session, it has rebounded again. Tonight, the key focus is on the head and shoulders bottom pattern. The right shoulder support area also coincides with the middle Bollinger Band. If gold can hold above 4400-4415, it will likely retest the neckline resistance at 4475-78. Only a break above this level will strengthen the bullish momentum of the head and shoulders bottom pattern. However, if news releases negatively and the 4400 level is breached, the pattern will fail, and gold will weaken again, testing 4350.
