CSI 300: 4200 shocks continue

A brief analysis of the fundamentals:

On Thursday (July 28), the three major A-share indexes rose and fell, and the turnover exceeded one trillion yuan again, an increase of 139.3 billion yuan over the previous trading day. After the Fed's decision on interest rates overnight, the CSI 300 opened with the US stock market. It strengthened, and then closed down continuously, closing slightly up 0.02%. Looking forward to the market outlook, the market has entered a period of shock from a unilateral repair period. At this stage, investors need to remain patient and wait for the opportunity to re-launch the index after a significant adjustment under external catalysis.

CSI 300 one-hour chart

A brief technical analysis:

From the 1-hour chart, the CSI 300 fell back to the support of 4200 again, and continued to consolidate around the support level. At the same time, the MACD volume could continue to shrink below the zero axis, indicating that the market will remain volatile and consolidate. Continue to pay attention to the gains and losses of the 4200 support. If it breaks down again, look at 4150-4100. If it is effectively stabilized and rebound, look at 4280-4340 above.

Long and short turning point: 4200

Resistance: 4340.00 4385.00

Support level: 4200.00 4150.00

Trading strategy: bullish above 4200.00, target 4340.00 4385.00

Alternative strategy: bearish above 4200.00, target 4150.00 4100.00