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CSI 300: Strong support 4365-4385
2022-07-06
935
A brief analysis of the fundamentals:
On Wednesday (July 6), A-shares went out of the independent market again. Unaffected by the U.S. stocks opening low and moving high the previous day, individual stocks in the city fell more and rose less. The turnover exceeded one trillion yuan for the 10th consecutive trading day, and the closing CSI 300 closed. fell 1.46%. The central bank's 3 billion yuan reverse repurchase operation for two consecutive days shows that monetary policy has begun to return to normal.
CSI 300 one-hour chart
A brief technical analysis:
Looking at the 1-hour chart, the CSI 300 stopped falling after it pulled back from the 4385-4365 area support, and the MACD volume was sharply shortened after the top divergence, indicating that the adjustment market entered the end, and the bullish trend was still above 4365 in the day, and it could only break below 4365. Determine the trend to turn bearish. Focus on 4365 during the day, above this level is still regarded as a bullish
Long-short turning point: 4365
Resistance: 4450.00 4520.00
Support level: 4365.00 4280.00
Trading strategy: bullish above 4365.00, target 4450.00 4520.00
Alternative strategy: bearish below 4365.00, target 4280.00 4200.00
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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