Bearish below CSI 300:4120

A brief analysis of the fundamentals:

On Thursday (August 11), A-shares opened lower and moved lower, and the trading volume continued to be sluggish, with a turnover of 966 billion yuan, and a net sale of 6.236 billion yuan from northbound funds. Looking forward to the market outlook, since the index reached a periodical high on July 5, the market turnover has continued to shrink. In the context of lack of incremental funds entering the market, the stock game will become the main theme of the market operation. Under the influence of the limited flexibility of domestic growth recovery and the pressure of the Fed to raise interest rates overseas, the market may maintain a shock pattern in the short term.

CSI 300 one-hour chart

Technical brief:

Looking at the 1-hour chart, the CSI 300 broke below 4120, and the support has turned into resistance. At the same time, the MACD volume can be enlarged below the zero axis, showing that the trend is biased towards the bears. During the day, pay attention to the resistance 4120, and watch the callback below this level at 4050-4000.

Long and short turning point: 4120

Resistance: 4200.00 4270.00

Support: 4050.00 4000.00

Trading strategy: bullish above 4120.00, target 4200.00 4270.00

Alternative strategy: bearish below 4120.00, target 4070.00 4000.00