CSI 300: Bullish above 4160

A brief analysis of the fundamentals:

On Thursday (August 12), the main A-share index fell. The CSI 300 fluctuated within a narrow range throughout the day, closing slightly down 0.06%. The market risk appetite fell, the turnover was less than one trillion, and the net inflow of northbound funds was 6.459 billion. Looking forward to the market outlook, the capital will remain loose under the weak recovery of the domestic economy. The current overall valuation of A-shares is in a reasonable range, and the A-share center is still expected to move up slowly in the second half of the year.

CSI 300 one-hour chart

Technical brief:

In the 1-hour chart, the CSI 300 remains above 4160, and the MACD continues to expand above the zero axis, showing that the short-term bullish kinetic energy is still strong, and the support of 4160 is effective. Above this level, see a rebound of 4250-4300.

Long and short turning point: 4160

Resistance: 4250.00 4300.00

Support level: 4160.00 4120.00

Trading strategy: bullish above 4160.00, target 4250.00 4300.00

Alternative strategy: bearish below 4160.00, target 41200.00 4050.00