CSI 300: Trending downward

Fundamental Analysis.

Friday (May 19) the three major indices closed mostly up, the CSI 300 index closed slightly down 0.42%, the two markets 2411 shares rose, 2408 shares fell, turnover of 848 billion yuan, the net sale of northward capital 2.226 billion yuan. Looking ahead, the market entered a weak shock period, the rapid rotation of the sector makes it much more difficult to operate, the market lacks money-making effect, volume contraction, further negative feedback on the market, the market is at an impasse, the short-term may usher in a wave of retracement.

CSI 300 four-hour chart

Technical analysis.

4 hours chart, CSI 300 further lower, MACD volume under the zero axis continued to release, the market trend is weak, resistance concern 3960 points, the level below the continue to look down near 3900-3850.

resistance level:3960 4000

Support level: 3900 3850

Trading strategy: 3960 below bearish, the target 3900 3850

Alternative strategy: 3960 bullish above, target 4000 4050