CSI 300: 3830-3900 Box finishing

A brief analysis of the fundamentals:

On Wednesday (September 28), the three major A-share indexes opened lower and retreated yesterday's gains, with the CSI 300 closing down 1.58% throughout the day. 4,463 stocks in the two cities fell and 438 stocks rose. The market sentiment was pessimistic. The turnover was 647 billion yuan, and the net sales of northbound funds were 3.84 billion yuan. Looking forward to the market outlook, the recent disturbances of external factors are still disturbing global risk appetite, and the National Day holiday is approaching. Due to concerns about overseas risk factors during the long holiday, most of the risks have been released after the market continued to fall. Wait patiently for the index to stabilize.

CSI 300 1 hour chart

A brief technical analysis:

From the 1-hour chart, the CSI 300 rebounded from 3900 and then fell back to support 3830. The MACD continued to shrink below the zero axis, and the trend continued to consolidate in the range. The box continued to oscillate between 3830-3900, within the range. Before breaking, the strategy of selling high and buying low is the main strategy. If the support is broken below 3800, it will be seen near 3950 if it is broken above 3900.

                                                          

Long and short turning point: 3830.00

Resistance: 3860.00 3900.00

Support level: 3830.00 3800.00

Trading strategy: bullish above 3830.00, target 3860.00 3900.00

Alternative strategy: bearish below 3830.00, target 3800.00 3770.00