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Bullish above CSI 300:4060

A brief analysis of the fundamentals:

Friday (September 9), the frantic scavenging of foreign capital before the Mid-Autumn Festival helped A-shares rise unilaterally. The Shanghai Stock Exchange closed up 0.82% throughout the day. The trading volume remained low, with a turnover of less than 800 billion. The net purchase of funds from the north was 148 100 million. Looking forward to the market outlook, after the launch of the boots in the financial report season, the market will be affected by factors such as policy expectation correction, profit forecast revision, gradual overseas recession, institutional position adjustment and other factors. Funds tend to be conservative, and the upward rebound before the holiday needs to be further confirmed unless there are policies. In the short term, the index needs to be wary of rising and falling.

CSI 300 one-hour chart

A brief technical analysis:

From the 1-hour chart, the CSI 300 rebounded strongly and broke through the resistance level of 4060. In the short term, a bottoming pattern appeared. The MACD began to increase in volume above the zero axis, indicating that the market may enter a new stage of the rebound cycle. At present, 4060 has turned into support. , the main bullish above this level in the day, the upper resistance is 4135-4200

Long and short turning point: 4060

Resistance: 4135.00 4200.00
Support level: 4060.00 4000.00

Trading Strategy: Bullish above 4060.00, target 4135.00 4200.00
Alternative strategy: bearish below 4060.00, target 4000.00 3970.00

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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