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The Rise Of STARTRADER

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World’s Fastest Growing Brokerage

The Rise Of STARTRADER

One Of The
World’s Fastest Growing Brokerage

Today Technical Analysis: Gold and Silver Hit Fresh Record Highs on Sustained Safe Haven Demand

January 29, 2026, 07:55

Gold Technical Analysis

Gold continues to show strong bullish momentum, trading above $5,550 and nearing the next major psychological level $6,000 with increased volume.

The moving averages strongly confirm this trend. Price is well above the three moving averages MA(5) MA(10), and MA(30), all of which are sloping upward. Short term moving averages are acting as dynamic support, reflecting strong trend health and sustained demand on minor pullbacks.

MACD is well above the zero line, and signaling accelerating bullish momentum. As long as gold holds above the $5,480–$5,500 support zone, the overall trend remaisn to the upside, with further extension expected.

Gold 1H Chart

Gold 1H Chart 29-1-2026
Resistance$5,595$5,610$5,625
Support$5,516$5,503$5,445

S&P 500 Technical Analysis

The S&P 500 is trading just below the 7,000 psychological level after failing to sustain the recent push toward 7,017. The broader structure remains bullish, as the index continues to record higher highs and higher lows following the strong rebound from the 6,813 area.

Price remains above the 30-period moving average, which is sloping upward and continues to act as dynamic support. Price action shows that the market is stabilizing above key trend support. As long as price holds above the 6,960–6,980 zone, the bullish intraday structure remains intact.

Momentum reflects this consolidation phase. MACD line is curling upward toward the signal line. If price breaks back above 7,000. Overall, SP500 appears to be consolidating within a bullish trend, with continuation favored unless key support levels are lost.

S&P 500 1H Chart

S&P 500 1H Chart 29-1-2026
Resistance7,0007,0107,020
Support6,9896,9776,959

Bitcoin Technical Analysis

Bitcoin is trading around the $88,300 area after being rejected near the $90,600 resistance zone. The short-term structure has shifted bearish, as price failed to hold above the recent highs and subsequently broke below short term support, forming a lower high and a lower low sequence on the intraday timeframe.

Price has fallen below the short term moving averages MA(5) and MA(10), while the 30-period moving average is flattening and starting to turn lower.

MACD is expanding negatively, and the MACD line remains below the signal line and below the zero level. This indicates growing downside momentum. The $86,000–$86,500 zone remains the key support to watch, while the broader bias stays bearish unless price can reclaim and hold above the $89,500–$90,000 region.

Bitcoin 1H Chart

Bitcoin 1H Chart 29-1-2026
Resistance$88,704$89,533$90,055
Support$87,599$86,967$86,518

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