CSI 300: Continue to be bearish below 4270

A brief analysis of the fundamentals:

On Friday (July 17), A shares quickly stabilized and rebounded after opening low during the session, but the rally did not stabilize, and then fell weakly until the end of the session. The CSI 300 closed down 1.7%, and the northbound funds sold more than 80 throughout the day. 100 million. The turnover has increased compared with the previous trading day, indicating that the market sentiment is low, the selling pressure from the top has increased, and the willingness to take short-term profits has increased. The shock trend of the stage adjustment.

CSI 300 one-hour chart

A brief technical analysis:

In the 1-hour chart, the decline of CSI 300 accelerated below 4340, the MACD volume continued to diverge below the zero axis, and the bearish trend was strengthened. The current resistance has moved down to 4270, and it continued to be bearish below 4270 in the day, and look at 4150 below. -4100

Long and short turning point: 4270

Resistance: 4270.00 4340.00

Support: 4150.00 4100.00

Trading strategy: bearish below 4270.00, target 4150.00 4100.00

Alternative strategy: bullish above 4270.00, target 4340.00 4380.00