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CSI 300: 4385-4365 forms strong support
2022-07-10
991
A brief analysis of the fundamentals:
On Friday (July 10), A-shares opened higher and then closed slightly lower, with the CSI 300 Index down 0.33%. The expected improvement in the fundamentals of the domestic economy, as well as the stable currency and credit, may form support for the A-share market. It is normal for the market to take periodic breaks, but it will not change the overall upward trend.
CSI 300 one-hour chart
A brief technical analysis:
Looking at the 1-hour chart, the CSI 300 was blocked after rebounding to 4460, and it was still fluctuating in a narrow range. The strong support area below 4385-4365 is still valid, and there is still upward momentum above the support.
Long-short turning point: 4365
Resistance: 4450.00 4520.00
Support: 4365.00 4280.00
Trading strategy: bullish above 4365.00, target 4450.00 4520.00
Alternative strategy: bearish below 4365.00, target 4280.00 4200.00
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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