CSI 300: Bearish below 4060

A brief analysis of the fundamentals:

On Thursday (September 15), the major A-share indexes opened higher and moved lower, and continued to decline in the afternoon. The CSI 300 once challenged the 4,000-point mark. Near the closing, the index bottomed out, and the decline narrowed. The turnover was 919.1 billion, heading north. Funds net sold 4.13 billion. Looking ahead, due to the high inflation in the United States, global liquidity is once again facing a new round of tightening policies. External risks are not conducive to the strengthening of A-shares. In the future, the overall stock index is expected to fluctuate upwards. Changes in external factors.

CSI 300 one-hour chart

A brief technical analysis:

In the 1-hour chart, the CSI 300 fell below the 4060 support, and the MACD began to increase its volume below the zero axis, indicating that the market has returned to a downward trend. At present, the strong support of 4060 has become a resistance level, and the correction will be mainly under this level in the day. Bottom support 3975-3935

Long and short turning point: 4060

Resistance: 4060.00 4100.00

Support: 3975.00 3935.00

Trading Strategy: Bullish above 4060.00, target 4100.00 4135.00  

Alternative strategy: bearish below 4060.00, target 3975.00 3935.00