CSI 300: Box arrangement remains unchanged

A brief analysis of the fundamentals:

On Thursday (September 29), the two A-share markets dived in the afternoon. The CSI 300, which once rose more than 1% in the morning session, finally closed down 0.13%. 1,640 shares in the two markets rose, and more than 3,100 shares fell. The turnover was 624.5 billion yuan, a record high. At a 23-month low, the net purchase of funds from the north was 3.43 billion yuan. Looking forward to the market outlook, the market is ushering in the most difficult time, and it is expected to usher in a large-scale bottom in mid-November. At present, the credit environment tends to decline, the domestic epidemic situation is repeated in scattered spots, the external demand is weak and exports are weakening, and there is still great pressure on the overall economic recovery. At the same time, as overseas interest rate hikes are expected to rise again, the US dollar index further strengthens, the RMB exchange rate is under pressure again, and short-term volatility will remain high.

CSI 300 1 hour chart

A brief technical analysis:

Looking at the 1-hour chart, the CSI 300 rebounded from 3900 and was again blocked and fell back to support 3830. The MACD continued to shrink below the zero axis. The trend continued to be mainly range-bound, and the box continued to oscillate between 3830-3900. , before the range is broken, the strategy of selling high and buying low is the main strategy, breaking the support below 3800, breaking above 3900 and looking around 3950.

                                                          

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