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CSI 300: Bearish below 4100

2022-08-31
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A brief analysis of the fundamentals:

On Monday (August 31), the three major A-share indexes were weak throughout the day. The CSI 300 closed down 0.42%, and the market sentiment remained sluggish. The turnover was 838 billion, and the northbound funds sold a net 4.98 billion. Looking forward to the market outlook, the adjustment since the beginning of July has come to a later stage, the policy is intensified to deal with the economic pressure, the monetary policy has taken the lead, and the interim report has been disclosed and closed. It will further increase, and wide fluctuations will become the norm in the near future.

CSI 300 one-hour chart



A brief technical analysis:

From the 1-hour chart, the CSI 300 rebounded and regained lost ground after breaking below 4060, but the overall trend was weakening. The MACD continued to expand below the zero axis, indicating that the market has further downward momentum. The current resistance has moved down to 4100. One line, bearish below 4100, target 4050-4000, bullish above 4100, target 4150-4200

Long and short turning point: 4100

Resistance: 4150.00 4200.00
Support level: 4050.00 4000.00

Trading strategy: bearish below 4100.00, target 4050.00 4000.00
Alternative strategy: bullish above 4100.00, target 4150.00 4200.00

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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