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CSI 300: 3960 resistance is effective

2022-09-20
179
A brief analysis of the fundamentals:
On Tuesday (September 20), the two A-share markets stabilized and rebounded. The CSI 300 closed up 0.22% throughout the day. The market performance was still cautious, the willingness to participate was not strong, and the trading volume continued to shrink. Net sales of 523 million. Looking forward to the market outlook, in the short term, the pressure of the economy will still cause disturbances to the market, and the market is still in a period of turbulence. However, the economic recovery is expected to accelerate around November, the fundamentals are also expected to usher in a substantial turning point, and the market may also have a stronger performance.

CSI 300 one-hour chart




A brief technical analysis:

In the 1-hour chart, the CSI 300 rose and fell, the strong rebound resistance 3950 fell again, and the pressure level was reconfirmed. At the same time, the MACD continued to increase its volume below the zero axis, and the trend was still dominated by bears.

Long and short turning point: 3950

Resistance: 3980.00 4060.00
Support level: 3900.00 3860.00

Trading Strategy: Bullish above 3950.00, target 4060.00 4100.00
Alternative strategy: bearish below 3950.00, target 3900.00 3860.00

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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