CSI 300: 4120 Battle

A brief analysis of the fundamentals:

On Tuesday (August 9), A-shares fluctuated in a narrow range throughout the day. The CSI 300 Index closed up 0.32% for the fourth consecutive trading day. The market is still dominated by wait-and-see, with a turnover of 950 billion yuan and a net selling of funds from the north. 2.212 billion yuan. Looking ahead, 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 maintains consolidation and shocks, running above the 4120 support. At present, with the weakness of the tribute, the bullish kinetic energy may be exhausted, but the MACD volume can be shortened below the zero axis, indicating that the market still needs to choose a direction. , continue to pay attention to the support of 4120 in the day, look at the rebound of 4200-4270 above this level, and look at 4070-4000 if it breaks down

Long and short turning point: 4120

Resistance: 4200.00 4270.00

Support level: 4070.00 4000.00

Trading strategy: bullish above 4120.00, target 4200.00 4270.00

Alternative strategy: bearish below 4120.00, target 4070.00 4000.00