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CSI 300: The trend is weak below 4200
2022-08-01
1271
A brief analysis of the fundamentals:
On Monday (August 1), A shares fell for a while after the opening, but then bottomed out and rebounded, maintaining a slight fluctuation in the afternoon. As of the close, the CSI 300 closed up 0.45%. Looking forward to August, with the revision of policy expectations, profit expectations, gradual overseas recession, and adjustment of institutional positions, A-shares will continue the high volatility since July, and the structural market conditions may also continue.
CSI 300 one-hour chart
A brief technical analysis:
From the 1-hour chart, the CSI 300 rebounded after falling to 4115, but it still failed to break above the 4200 mark. It was under pressure again, and the trend was still weak. At the same time, the MACD volume continued to expand below the zero axis, indicating that the market will have The risk of further retesting, look at 4100-4050 below the 4200 resistance
Long and short turning point: 4200
Resistance: 4200.00 4300.00
Support level: 4150.00 4100.00
Trading strategy: bullish above 4200.00, target 4300.00 4385.00
Alternative strategy: bearish above 4200.00, target 4100.00 4050.00
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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