Gold braces a positive start on escalation of the Russia-Ukraine war, US Inflation eyed
Apart from the encouraging fundamentals favoring gold price, the metal’s technical setup on the four-hour chart also points to more upside. That said, the yellow metal has confirmed an upside breakout from a symmetrical triangle formation after yielding a four-hourly candlestick closing above the falling trendline resistance at $1,936.
On the downside, the immediate cushion is seen at the triangle resistance turned support at $1,935, below which a sharp sell-off could be triggered towards the powerful cap of $1,928. At that point, the triangle support and bullish 21-Simple Moving Average coincide.
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