Gold price still in bullish trend and stay above SMA200. However, gold is sideway for mid term and in descending triangle pattern. Gold trader still not making any move whether to continue bullish or start a new bearish trend.
Triangle pattern can be considered as correction phase while moving in uptrend/downtrend. Some trader/investor taking profit while the other is buying.
Gold can be reinvest when price near the supporting line as price tend to rebound thereafter. Trader can execute stop loss when gold price break the supporting line.
Happy investing.
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Forex trade is very profitable if you find a suitable platform to trade. Before you sign up with a Forex options broker, it is important to check the number of currency pairs that you can use to trade.
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