Gold's performance this morning can be described as a roller coaster. After the opening, the bulls surged to a high of 4484, but the bears immediately counterattacked, causing the price to drop to around 4452 before stabilizing. Then the bulls started to buy the dip, and the price rebounded, but did not continue to push higher; instead, it oscillated within a range. Overall, the pattern is "initial rally - sharp decline - then rebound."

Looking at the hourly Bollinger Bands makes this logic clear. The bands are gradually widening, with the upper band diverging upward, and the middle and lower bands also slowly moving higher, indicating a generally strong structure. The early breakout indeed touched the upper band, but when the price retraced into the channel, the middle and lower bands did not turn downward; instead, they found support before even reaching the middle band. This is a typical sign of a healthy correction after breaking above the upper band in an upward trend.

From a trading perspective: buy on dips at 4450, add positions at 4440, set a stop at 4428, and target the 4490-4510 zone. This is just my personal view and not investment advice.