FX.co ★ Technical analysis of gold

Gold:

The chart shows the movement of gold in the 4-hour (H4) chart.

Pay attention to the vertical dotted line, along which there are 4 points (marked with pink arrows) formed from the intersection of slanted lines. This linearization is a rare phenomenon, and it is quite difficult to find an exact interpretation for it. Even so, there is a term for it - parade of nodes - as it is sometimes found on financial instruments.

According to past observations, this situation ends up with a trend reversal. So, having tested the support level of $1687, gold will see a trend change, moving towards $1894.

Good luck!