CSI 300: 4120 is a watershed for long and short

A brief analysis of the fundamentals:

On Monday (August 8), the A-share CSI 300 index fluctuated within a narrow range, and the final opening and closing prices were parity, with a turnover of 950 billion yuan, and a net sale of 1.07 billion yuan of northbound funds. Looking forward to the market outlook, in the process of finding a new balance for A-shares in August, the game of funds was still fierce. However, due to limited incremental funds, under the support of fundamentals, the trend of market fluctuations has not changed.

CSI 300 one-hour chart

A brief technical analysis:

From the 1-hour chart, the CSI 300 counterattacked upwards after gaining support at 4050, and successfully filled the previous gap. At the same time, the MACD volume can be shortened below the zero axis. The current support has moved up to 4120, which is above this level within days. Continue to see the rebound, see 4200-4270 above 4120

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