CSI 300: Bearish below 4143

A brief analysis of the fundamentals:

On Tuesday (August 2), A-shares fell in heavy volume. The CSI 300 index fell by more than 3% during the session, hitting a two-month low. It closed down 1.95% throughout the day. Pessimism dominated, and the turnover exceeded one trillion. Northbound Funds net sold 2.31 billion. As the US House of Representatives Speaker Nancy Pelosi's visit to Taiwan has triggered the intensification of the conflict between China's Taiwan Strait and China and the United States, the risk aversion has been triggered, and the recent trend of A-shares mainly depends on the trend of the time.

CSI 300 one-hour chart

A brief technical analysis:

From the 1-hour chart, the CSI 300 continued its downward trend below 4200, and the downward trend accelerated to a gap. The current resistance has moved down to 4143, and it continued to be bearish below this level within days, while MACD was below the zero axis. The volume can continue to be enlarged, indicating the risk of further re-exploration of the market. Look at 4050-4000 under 4143

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 4000.00