CSI 300: Continue to be bullish above 4160

A brief analysis of the fundamentals:

On Wednesday (August 17), the main indexes of the A-share and the two cities rose. Although there was a correction trend in the early trading, the disk was quickly supported, and the market sentiment recovered quickly. The CSI 300 closed up 0.94%, and the turnover exceeded one trillion. The net purchase of Beishang funds was 6.872 billion, the fifth consecutive trading day. Looking forward to the market outlook, although the index has not rebounded strongly recently, the market's bullish sentiment is not weak, and the superimposed sectors are rotated in a benign manner. When a new main line appears in the market, the market is expected to emerge from a new wave of strong rebound.

CSI 300 one-hour chart

A brief technical analysis:

From the 1-hour chart, CSI 300 fell again but stopped falling at 4160 and started a counterattack, confirming that the support is valid again. At the same time, the MACD can start to strengthen above the zero axis, and the support at 4160 is still valid. Continue to see a rebound above this level. 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