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CSI 300: Look at the callback below 4340
2022-07-12
940
A brief analysis of the fundamentals:
On Tuesday (July 12), the three major A-share stock indexes fluctuated and fell, and the turnover decreased from the previous day, and failed to continue to exceed one trillion yuan. The CSI 300 index fell by more than 1% during the session, and closed down 0.94 %. Market rumors that Buffett is going to sell BYD have become the trigger for today's decline. The sell-off of the leading BYD has caused the market to collapse. At the same time, the epidemic in China has recurred, and foreign investors have rekindled concerns about China's supply chain.
CSI 300 one-hour chart
A brief technical analysis:
From the 1-hour chart, the CSI 300 continues to pull back. The current resistance has moved down to 4340. The MACD has begun to increase volume below the zero axis. The top of the short-term trend has begun to appear. see 4250-4200
Long and short turning point: 4340
Resistance: 4340.00 4385.00
Support level: 4250.00 4200.00
Trading strategy: bearish below 4340.00, target 4250.00 4200.00
Alternative strategy: bullish above 4340.00, target 4485.00 4450.00
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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