CSI 300: Strong resistance at 3920

A brief analysis of the fundamentals:

On Thursday (September 22), the two A-share markets continued to adjust. As of the close, the CSI 300 fell by 0.27%, with a turnover of 637.2 billion, and a net sale of 3.65 billion of northbound funds. Looking ahead, the Fed will raise interest rates, export inflation, the dollar will continue to appreciate, and the renminbi will depreciate relatively. Under such a large environment, A-shares may be mainly volatile in the short term, market trading volume will continue to be sluggish, and the sector will continue to be poor. Before zooming in, it is advisable to participate in the short-term game of small positions.

CSI 300 one-hour chart

A brief technical analysis:

In the 1-hour chart, the CSI 300 continued its downward trend below 3920. 3. At the same time, the MACD continued to expand below the zero axis, and there was no sign of shrinking. The trend continued to be bearish.

Long and short turning point: 3920

Resistance: 3960.00 4000.00

Support: 3870.00 3830.00

Trading strategy: bullish above 3920.00, target 3960.00 4000.00  

Alternative strategy: bearish below 3920.00, target 3870.00 3830.00