2026-01-30 08:14:45

Spot Gold Midday Analysis (January 30)

Midday spot gold fluctuated widely between $5100 and $5200. After a sharp plunge of over 400 points from the high of $5594 overnight, bottom-fishing funds and selling pressure engaged in a tug-of-war. Before the monthly close, it is highly likely to continue oscillating and correcting, with a breakout awaiting guidance from the European session.

First, Cheng Jingsheng explains the main reasons for the plunge: The Federal Reserve maintains interest rates, Powell states that inflation is receding slowly, and expectations of rate cuts in March have cooled. The dollar has strengthened, suppressing gold prices; institutions took profits at historical highs, exchanges increased margin requirements, leveraged longs were forced to close positions, triggering a "longs killing longs" stampede.

Support for stabilization: The central bank continues to increase gold holdings; long-term concerns over dollar credit remain unresolved. After the sharp decline, buying interest entered to support the floor, with a rebound after touching a low of $5088.

January gold ETFs saw significant increases, but RSI once exceeded 90, indicating severe overbought conditions. Short-term selling pressure remains, and before the monthly close, funds are cautious.

Technical support: 5100-5150 previous dense trading zone + psychological barrier. Resistance: midday rebound high of $5200-5250 + trapped positions. After overbought correction, the 4-hour MACD green momentum is shrinking, RSI has risen near 50. Volatility before the monthly close is limited, with a high probability of range-bound oscillation.

Midday Trading Suggestions

Range Trading: Light short positions at 5190-5200, light long positions at 5120-5130. Do not chase rallies or panic sell.

Stop-loss settings: Long positions below 5100, short positions above 5220. Stop-loss range of 10-15 points. No holding through stops.

Today, due to last night’s sharp decline and intense tug-of-war, caution is advised when entering positions. Maintain good defense.

Short-term oscillation to digest selling pressure; the overall trend remains relatively strong. This plunge is a short-term shakeout. During midday, manage risk and aim for small profits. After the European session or once a clear direction stabilizes, consider increasing positions. Buying on dips is a more prudent strategy.

The above is only personal advice for reference and does not constitute investment advice. Please follow Cheng Jingsheng’s strategic layout for specific actions!$XAUT ‌#XAU

XAUT-8,82%

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Short-TermContractKingS

· 5h ago

BTC is currently in a situation where the bulls are desperately holding on, and the bears are sharpening their knives. Currently, the long liquidation dominance is as high as 97%, and almost all margin calls are on longs. This indicates that market sentiment has become extremely distorted. Although such extreme values usually suggest a short-term rebound (because the selling pressure is intense), without subsequent funds stepping in to buy, this stabilization is just a dead fish jump. Moreover, after a normal sharp decline, the funding rate should turn negative (bears paying longs). But the current funding rate is still positive. In my opinion, this suggests that the longs in the market haven't given up yet and are desperately rebuilding their positions at extremely high costs. Since the position structure still leans towards longs, the rebound is likely a panic escape wave. Remember this saying — only when the longs no longer believe in the rally will the market truly start to rise. The current funding rate indicates that the longs haven't been defeated yet, and the market may still undergo a more intense drop to force the funding rate to zero.

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