Gold breaks higher, bullish trend dominates, and dips are for low-cost accumulation

Trend sets the direction, and oscillations hide opportunities. On January 27, 2026, during the midday session, spot gold broke through the $5080 level, further strengthening the bullish trend. Short-term oscillations are merely for gathering strength; grasping the rhythm of dips for low-cost accumulation is the key to staying in sync with the main upward wave.

The strategy ideas provided in the morning were relatively conservative. The trend exceeded expectations, but this does not hinder Cheng Jingsheng's analysis of the logical trend. Below, Cheng Jingsheng's strategy will lead partners to discuss from two aspects:

First, regarding news, the core drivers of today's gold rally are threefold: Trump's tariff hikes on Korean goods triggered trade friction escalation; unresolved Russia-Ukraine negotiations fermented geopolitical risks; combined with rising market expectations of Fed rate cuts, safe-haven demand and capital allocation jointly pushed gold prices higher. The midday slight pullback was merely profit-taking by bulls, with strong buying support below, maintaining high-level oscillation.

Second, from a technical perspective, the daily chart shows a bullish arrangement for spot gold, with MACD maintaining a golden cross. Although RSI is in overbought territory, there are no reversal signals. The 4-hour chart is in the fifth wave of an upward phase, with KDJ at high levels without a death cross. After a quick rebound from the 5030 USD retracement, the Bollinger middle band at 5030 USD provides immediate support, and the overall bullish pattern remains unchanged.

Midday trading should focus on trend-following low-cost buying, strictly avoiding contrarian short positions. Enter lightly on dips around 5030-5040 USD, with a stop-loss below 4990 USD. The initial target is in the 5080-5110 USD range; a breakout can lead to increased positions aiming for 5120 USD. If a strong breakout above 5100 USD occurs and stabilizes, small positions can chase longs with a stop-loss below 5080 USD, targeting 5120 USD.

The above is only personal advice, for reference only, and does not constitute investment advice. Please follow Cheng Jingsheng's layout on Shipan for specifics!!#黄金