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CSI 300: Continue to be bullish above 4365
2022-06-29
1257
A brief analysis of the fundamentals:
On Tuesday (June 28), A-shares continued to rally strongly, with CSI 300 closing up 1.04%. The main reason was that China adjusted its epidemic prevention and control plan and shortened the quarantine time for close contacts and inbound personnel, which boosted economic opening. Consumer stocks rose collectively. A-shares continue to be independent, mainly due to the three divergences between China and the US economy, currency, and asset cycles, intensified fears of recession in the US, tightening of Fed funds, China's recovery, relatively loose monetary policy, and China's assets switching from debt to stocks, the market outlook is still OK Expect
CSI 300 one-hour chart
A brief technical analysis:
In the 1-hour chart, the callback of CSI 300 failed to fill the gap, the support of 4365 was confirmed again, and the MACD column began to re-volume after flattening above the zero axis, indicating that the price has further room to rise. Continue to be bullish above 4365 within days, target 4500-4600, bearish below 4365, target 4320-4190
Long-short turning point: 4365
Resistance: 4500.00 4600.00
Support: 4300.00 4190.00
Trading strategy: bullish above 4365.00, target 4500.00 4600.00
Alternative strategy: bearish below 4365.00, 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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