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CSI 300: 4385 support is valid
2022-07-05
1044
A brief analysis of the fundamentals:
On Tuesday (July 5), A-shares staged a deep V again, opening high and moving low throughout the day, then rebounded in late trading to recover some of the losses, and the CSI 300 closed down 0.14%. This short-term correction has been affected by the reduction of the central bank's reverse repurchase operations, and the market liquidity has tightened to a certain extent. With the continued introduction of incremental policies in July, the superimposed fundamental data continues to improve, and economic expectations have been revised upward. Risk concerns have fallen significantly, and A-shares still have an upward inertia in the short term.
CSI 300 one-hour chart
A brief technical analysis:
From the 1-hour chart, the CSI 300 opened lower and retested around 4420, but it is still above the support of 4385. The MADC volume can begin to shorten above the zero axis, indicating that the adjustment may be maintained in the short term, but the trend is still in a bullish pattern, and will be maintained at Above 4385, continue to be bullish, target 4500-4600, break 4385 and be bearish, target 4300.00 — 4190.00
Long-short turning point: 4385
Resistance: 4500.00 4600.00
Support: 4300.00 4190.00
Trading strategy: bullish above 4385.00, target 4500.00 4600.00
Alternative strategy: bearish below 4385.00, target 4300.00 4190.00
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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