CSI 300: Short support at 3830

A brief analysis of the fundamentals:

On Tuesday (September 27), the three major A-share indexes were sorted in red trading in the morning, and continued to rise in the afternoon. The CSI 300 ended a four-day losing streak. The profit-making effect was excellent. The market sentiment was mainly repaired, but the volume remained at a low level. 666 billion yuan, slightly lower than the previous two falling trading days, and the net purchase of northbound funds was 3.272 billion yuan throughout the day. Looking ahead, since September, the prices of A-shares, RMB exchange rates, Hong Kong stocks and other domestic assets have fluctuated violently and fell below key positions. Although most stock valuations have entered a historically low range, there are still uncertainties in policy, demand, and geopolitical risks. The path is still in an uncertain state, and it is not suitable for excessive position operations.

CSI 300 one-hour chart

A brief technical analysis:

Looking at the 1-hour chart, the CSI 300 was supported at 3830 and rebounded to the resistance level of 3890. At the same time, the MACD continued to shrink slightly below the zero axis, showing that the downward trend has slowed down. The support below 3830 has been confirmed again, and it is above this level within days. Continue to look at the rebound, if the short-term bottom is expected to form above 3890, the upper target is 3920-3960.

Long-short turning point: 3830

Resistance: 3920.00 3960.00

Support level: 3830.00 3800.00

Trading Strategy: Bullish above 3830.00, target 3920.00 3970.00

Alternative strategy: bearish below 3830.00, target 3800.00 3780.00