After my last blog, Zijin Mining dropped to 6.20 on the next trading day (which was actually on the lower line of the down-trend channel), and I bought its call warrant. Today Zijin Mining dropped due to the overall drop of Hong Kong market. It looks like that the gold price is still not enough to bring the price of Zijin Mining upwards. Today I did an analysis on Gold price.
The price dropped through the second line yesterday but it returned today. Though the whole trend is downwards, just like Zijin Mining, there would be a rebound after touching the second down-trend line. It just looks like Zijin Mining, doesn't it? The expected price for the rebound would be 1,090.
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