CSI 300: Finishing at a high level

A brief analysis of the fundamentals:

On Wednesday (June 22), the three major A-share stock indexes fell weakly during the session, and fell again in the afternoon. The turnover of the two markets shrank. The daily turnover was less than one trillion yuan, and the net sales of northbound funds exceeded 6.8 billion. The CSI 300 Index It closed down 1.27%. Foreign capital continued to sell and external turmoil continued. Both European and American stocks fell sharply, and sentiment was transmitted to the A-share market. In the short term, there is insufficient upward momentum, and downward, there is a easing policy to support the bottom, and the high probability is still dominated by shock adjustments.

CSI 300 one-hour chart

A brief technical analysis:

Looking at the 1-hour chart, after the CSI 300 index broke above 4190, the resistance has turned into support. It is currently running above 4190. The MACD begins to shrink above the zero axis, and remains above 4190 to continue to watch the shock rebound. The target is 4320. -4450, if it breaks below 4190, it will look around 4060

Long and short turning point: 4190

Resistance: 4320.00 4450.00

Support: 4190.00 4060.00

Trading strategy: bullish above 4190.00, target 4320.00 4450.00

Alternative strategy: bearish below 4190.00, target 4060.00 4000.00