CSI 300: Entering the 3827-3890 range

A brief analysis of the fundamentals:

On Monday (September 26), the two A-share markets surged in early trading and then fell volatile. The CSI 300 closed down 1.2% throughout the day. Nearly 4,000 shares in the two markets fell, and over 900 shares rose. The turnover was 668 billion yuan. into 4.277 billion yuan. Looking forward to the market outlook, the haze of rapid interest rate hikes and economic recession in Europe and the United States will not be dissipated. Domestic policies are still in the observation period.

CSI 300 one-hour chart

A brief technical analysis:

Looking at the 1-hour chart, the CSI 300 rebounded to the resistance level of 3890 and then fell again. At the same time, the MACD continued to expand below the zero axis and then slightly shrunk, indicating that the downward trend has slowed down, and it will form a range between 3827-3890 in the short term. , break below 3890 to see lower.

Long-short turning point: 3890

Resistance: 3890.00 3920.00

Support: 3830.00 3800.00

Trading Strategy: Bullish above 3890.00, target 3920.00 3970.00  

Alternative strategy: bearish below 3890.00, target 3830.00 3800.00