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CSI 300: Pay attention to the gains and losses of 4365

2022-06-30
933
A brief analysis of the fundamentals:

On Wednesday (June 29), the three major A-share indexes opened weaker, and the decline continued to expand in late trading. The turnover exceeded one trillion yuan again, but the net sales of northbound funds were 1.683 billion, and the CSI 300 index finally closed down 1.54%. The decline of A-shares is mainly related to the recent sharp drop in U.S. stocks. In addition, after the continuous rise, major sectors are also facing profit-taking pressure. In addition, the market sentiment is too frenetic, and there has been an inertial technical adjustment. The short-term market is overbought. Correction.

CSI 300 one-hour chart



A brief technical analysis:

Looking at the 1-hour chart, although the CSI 300 has an adjustment order, it still remains above 4365. At the same time, the MACD begins to shrink at a high level above the zero axis. In order to fix the adjustment and correction, the trend is still dominated by bulls, and it is expected to pick up after the adjustment. Rally. In the day, 4365 is still the dividing line between long and short, and it continues to be bullish above 4365, with a target of 4500-4600, and bearish below 4365, with a target of 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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