CSI 300: Bullish above 4120

A brief analysis of the fundamentals:

On Friday (August 5), the A-share index fluctuated within a narrow range in early trading. In the afternoon, driven by securities companies and other sectors, it rose rapidly. CSI 300 closed up 1.35%, with a turnover of less than one trillion yuan, but a heavy volume of 96 billion compared with the previous trading day. Compared with yesterday, market sentiment and profit-making effect improved, and Beishang funds bought a net 2.93 billion yuan throughout the day. Looking forward to the market outlook, a new round of rising market is expected to gradually start in the middle and late August. The core driving force is that the financial report season kicks off, and the CSI 300 is expected to strengthen again after the correction.

CSI 300 one-hour chart

A brief technical analysis:

Looking at the 1-hour chart, the CSI 300 counterattacked upwards after gaining support at 4050, successfully covering the previous gap, while the MACD volume could be shortened below the zero axis, and 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