CSI 300: 4143 resistance is effective

A brief analysis of the fundamentals:

On Wednesday (August 3), A-shares rose and fell. The CSI 300 index once rose by nearly 1%, dived lower in the afternoon, and closed down 0.9% throughout the day. The turnover remained above one trillion, but the northbound funds sold net 10.49 100 million. Looking ahead, the US House Speaker's visit to Taiwan has intensified tensions between the world's two largest economies. Currently, affected by Sino-US frictions and the risk aversion of the situation in the Taiwan Strait, funds have sold off again, and the overall market performance is unstable.

CSI 300 one-hour chart

Technical Analysis

After rebounding at 4143, the CSI 300 was blocked again and continued to decline. It continued to be bearish below this level during the day. At the same time, the volume of MACD continued to expand below the zero axis, indicating the risk of further re-examination of the market. Look under 4143 4050-4000

Long-short turning point: 4143

Resistance: 4143.00 4200.00

Support level: 4050.00 4000.00

Trading strategy: bullish above 4143.00, target 4200.00 4300.00

Alternative strategy: bearish below 4143.00, target 4050.00 4000.0