XAU/USD Bull Run Continues: Targeting 2985 as Institutional Flow Fuels the Rally

Market Overview: Gold's Persistent Ascent

Good morning, KoraFX community! Looking at XAU/USD, the bullish trend remains firmly intact, and the data is compelling for further upside. Currently trading at 2932.36, gold has seen a solid 24h gain of 12.36 points, or 0.42%. This upward momentum is undeniable. We've been consolidating within a healthy day range of 2913.82 to 2950.91, which is typical before the next leg higher. This current price action suggests that institutional order flow is actively buying on dips, reinforcing the underlying strength of the market. My analysis points to a continuation of this robust uptrend.

Technical Setup: Targeting New Highs

For this swing trade setup, I'm initiating a long position on XAU/USD. My entry point is set at 2926, anticipating a slight pullback or consolidation before the next push higher. This level offers an attractive risk-reward profile, sitting comfortably above our immediate strong support at 2913.82 and the psychological 2900 level. A key resistance level being tested is 2950.91; a decisive break above this will pave the way towards the significant 3000 mark. My stop loss is strategically