CSI 300: Pay attention to support 4016

A brief analysis of the fundamentals:

On Wednesday (September 7), the major A-share indexes continued their upward trend. The CSI 300 rose relatively weakly, closing slightly up 0.09%. The wait-and-see mood still dominated. The turnover was 870 billion, and the northbound funds sold a net 3.37 billion. It was the fifth consecutive trading day of net selling. Looking forward to the market outlook, the international situation is uncertain, the domestic situation is inevitably affected, the capital tends to be conservative, and the upward momentum of the index is not obvious. Unless there is a policy or external force, it is difficult for the index to rise in the short term.

CSI 300 one-hour chart

A brief technical analysis:

Looking at the 1-hour chart, the CSI 300 continued to rebound and strengthened above 4016 points. The MACD volume continued to shrink below the zero axis, showing a trend or continued reverse pumping. At present, the short-term support still looks at 4016, which is above this level within days. Continue to see the rebound, the upper target is 4080-4150

Long and short turning point: 4016

Resistance: 4080.00 4150.00

Support level: 3980.00 3950.00

Trading Strategy: Bullish above 4016.00, target 4080.00 4150.00  

Alternative strategy: bearish below 4016.00, target 3980.00 3930.00