Gold's Momentum Strong: Targeting Higher Levels for a Swing Trade

Technical Confirmation & Entry Strategy

My analysis on XAU/USD continues to highlight a robust bullish trend. We're currently seeing Gold trading around 2929.96, showing a solid 0.34% gain over the last 24 hours. The price action within the day range of 2915.02 — 2944.9 clearly indicates buyers are in control, consistently pushing towards the upper end of the daily bracket. This sustained pressure is compelling.
For a swing trade, I'm eyeing a long entry at 2925. This level offers a strong confluence, sitting comfortably above the immediate support at 2915.02 and the significant psychological level of 2900. The data is compelling; price has shown resilience around these key levels, suggesting institutional order flow is actively defending downside moves and accumulating.

Fundamental Tailwinds & Trade Setup

From a fundamental perspective, the environment remains highly supportive for Gold. Persistent global inflation concerns, coupled with ongoing geopolitical uncertainties, are driving demand for safe-haven assets. Central bank gold purchases have also been a consistent theme, providing a solid floor for prices. This robust fundamental backdrop underpins our bullish technical outlook, suggesting that the current upward momentum is not merely speculative but driven by deeper economic forces.
My swing trade setup