CSI 300: bearish below 3900

Brief analysis of fundamentals:

Friday (December 30) is the last trading day of A-shares in 2022. Today, the overall market sentiment is still sluggish, and the turnover of the two cities is only more than 600 billion. As of the close, the Shanghai and Shenzhen 300 rose 0.51%. The net purchase of northbound funds was 93 million yuan today, and the cumulative net purchase in December was 35 billion yuan. Looking forward to the market outlook, after the epidemic peaks, the domestic economy will enter the "end of the downturn" or even enter the "early recovery". At that time, A shares are expected to usher in a significant reversal. In January 2023, A-shares are expected to usher in "spring turmoil", and the "counterattack" market is worthy of attention.

CSI 300 four-hour chart

Brief technical analysis:

Looking at the 4-hour chart, the Shanghai and Shenzhen 300 maintained a downward trend below 3900. After the rebound, it was still significantly blocked, and the trend was still in a narrow range of consolidation. The MACD showed a slight shrinkage below the zero axis, indicating that the market trend is still weak. The current resistance Maintain around 3900, below 3900 is mainly bearish, below 3810-3750.

Long and short turning point: 3900

Resistance level: 3900.00 3950.00

Support level: 3810.00 3750.00

Trading strategy: bearish below 3900, target 3810.00 3750.00

Alternative strategy: call above 3900, target 3950.00 4000.00