Gold price rises as markets increase their bets of interest rates coming down in the US. The Chinese Caixin services PMI data remains in expansive territory, supporting the outlook for a key market for Gold. Central bank buying of Gold remains strong in March, according to the World Gold Council.
A decisive break would be one characterized by a longer-than-average green candlestick that pierces above the range ceiling, and closes near its high; or three green candlesticks in a row that pierce above the respective level. Unfinished Measured Move Gold price is potentially unfolding a bearish Measured Move price pattern which began on April 19. Measured Moves are zig-zag type patterns composed of three waves labeled A, B and C, with C usually equalling A or a Fibonnaci 0.681 of A.