Morning Trend | ZHAOJIN MINING funds retreat again, is a rebound window approaching?

Yesterday, ZHAOJIN MINING closed at HKD 11.20, with large orders flowing out again during the session, and a clear withdrawal of funds from the gold sector overall. Defensive sentiment dominated the market, with international gold prices undergoing a phase of adjustment, dragging down the weight of precious metal stocks. The market atmosphere is cautious; although there are voices of 'speculative rebounds' in certain areas, the trend of mainstream funds exiting has not changed. Overseas gold prices are highly volatile, and short-term bearish sentiment is rising. The company currently has no new performance highlights, and the latest announcements and business progress have failed to boost market sentiment. The safe-haven attribute of gold has also not gained mainstream capital preference in the current global macro environment. The enthusiasm of industry speculators is low, and the imagination within the sector is limited. From a technical perspective, the MACD has formed a death cross, and the moving averages are in a bearish arrangement, greatly suppressing rebound momentum. In the short term, the J value and RSI have been continuously oversold, and the technical bottom is gradually accumulating rebound momentum. However, if trading volume remains low, the rebound space will also be very limited. After multiple tests of the key support at HKD 11.20, selling pressure has not eased, and the main tone remains one of repeated fluctuations and consolidation. Current fluctuations in overseas gold prices and local announcements need to be closely monitored; if there is a slight rebound during the session without accompanying trading volume, beware of the risk of false bullish signals. The strategy suggests closely monitoring changes in volume and structure; if a weak rebound is blocked, there is a risk of re-testing the lower boundary of the range, with dynamic management of positions and risks as the main focus