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CSI 300: Bullish above 4385 support
2022-07-04
1336
A brief analysis of the fundamentals:
On Monday (July 4), A-shares opened lower and then gradually rose, with a turnover of 1,130.4 billion yuan, a net purchase of 4.501 billion yuan by northbound funds, and the CSI 300 index closed up 0.66%. A-shares are currently in the second stage of the current round of the market. It is expected that incremental policies will continue to be introduced in July. The superimposed fundamental data will continue to improve. Economic expectations have been revised upward. Investors' concerns about risks have dropped significantly. There is still an upward inertial market for A-shares in the short term. .
CSI 300 one-hour chart
A brief technical analysis:
From the 1-hour chart, the CSI 300 opened lower and returned to around 4400, but it is still above the support of 4385. At the same time, the MADC volume can start to flatten above the zero axis, indicating that the short-term adjustment is expected to end, the trend is still in a bullish pattern, and the market outlook will remain unchanged. Continue to be bullish above 4385, target 4500-4600
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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