HK stock market trader's review

Gold stock drops with falled Gold price

Last nite gold has dropped 3%, from highest $640 to $608 in a few hours.

The gold stocks 2899, 3330 followed and each dropped about 11%. It was a big loss to me, but generally it is a good and healthy adjustment, though fast.
The RSI of both stocks has been rising to a very high value (80+) recently. The fall today should ease the RSI and is more healthy for further rise.

Gold has managed a gain of $24 to $632 from the bottom $608 last nite. Hopefully next monday 2899 would jump up and recover most of the loss for today.

posted by SSY @ 10:42 AM