Market Snapshots

Baidu Wave Analysis – 22 May, 2020

Baidu Wave Analysis – 22 May, 2020

• Baidu reversed from key resistance level 120.00

• Likely to fall to 100.00

Baidu recently reversed down sharply from the key resistance level 120.00 – standing well outside of the upper daily Bollinger Band.

The downward reversal from the resistance level 120.00 started the active short-term impulse wave  

Baidu is likely to fall further toward the next round support level 100.00 (former resistance form the start of May – which stopped the previous correction (b)).

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