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Gold: Bearish below 1700
2022-07-21
1843
A brief analysis of the fundamentals:
On Wednesday (July 20), A shares shrank and rebounded. The CSI 300 fluctuated slightly. The trading volume shrank, with a turnover of 950 billion and a net purchase of 3.678 billion by the capital from the north. Looking forward to the market outlook, the stock index is generally expected to continue to fluctuate upwards in the future. At the same time, it is still necessary to pay close attention to changes in policies, funds and external factors.
CSI 300 one-hour chart
A brief technical analysis:
In the 1-hour chart, the CSI 300 stopped falling and rebounded above 4200, the MACD began to shrink below the zero axis, and the market entered a volatile consolidation. In the day, the box body oscillated between 4200-4340.
Long and short turning point: 4200
Resistance: 4340.00 4385.00
Support level: 4200.00 4150.00
Trading strategy: bullish above 4200.00, target 4340.00 4385.00
Alternative strategy: bearish above 4200.00, target 4150.00 4100.00
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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