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CSI 300: 4060 turns to resistance

2023-02-19
921
Fundamental analysis:

On Friday (February 17), the two cities in A shares were adjusted again. The Shanghai and Shenzhen 300 fell for 3 days, hitting a new low in a month, 2960 shares in the two cities, rising in 1890 shares, 914 billion yuan in turnover. Essence This week, the CSI 300 fell 1.12%, and the northern direction funds bought 2.029 billion yuan throughout the day. The net purchase of more than 5.6 billion yuan was bought in the afternoon.

CSI 300 Four Hours Chart




Technical analysis:

Looking at the 4-hour chart, the Shanghai and Shenzhen 300 fell below the 4060 support, and the strong yin line broke down, and the short trend was further strengthened. At the same time, the amount of MACD below the zero axis could begin to amplify. In the resistance area, the target below is 4000-3950.

Multi -short turning point: 4060

Resistance level: 4060.00 4100.00
Support bit: 4000.00 3950.00

Trading strategy: Watch the decline under 4060, target 4000.00 3950.00
Alternative strategy: Bullish above 4060, target 4185.00 4250.00

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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