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CSI 300: Support moved up 4385
2022-06-30
1208
A brief analysis of the fundamentals:
On Thursday (June 30), the three major A-share indexes opened stronger. Although they fell in late trading, the CSI 300 Index closed at a steady 1.44% increase. It is worth noting that the CSI 300 Index rose by more than 9% in June, setting the best monthly performance since July 2020. With the introduction of favorable policies for the epidemic in China, it is expected to further promote residents' travel confidence, and post-epidemic consumption will recover. Through the prevention and control experience in the same period, the possibility of a large-scale epidemic outbreak in the future is small, and the CSI 300 is expected to continue to strengthen due to the recovery of consumption.
CSI 300 one-hour chart
A brief technical analysis:
From the 1-hour chart, the CSI 300 continued to strengthen and broke yesterday's high. Above the strong support of 4365, the market was in a rising stage. The MACD re-exchanged above the zero axis. In the short term, the bulls are still strong, and the current support has moved up to 4385. , the bullish 4500-4600 can be maintained above 4385 within days
Long-short turning point: 4385
Resistance: 4500.00 4600.00
Support level: 4300.00 4190.00
Trading strategy: bullish above 4385.00, target 4500.00 4600.00
Alternative strategy: bearish below 4385.00, target 4300.00 4190.00
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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