Market Snapshots

Baidu Wave Analysis – 24 March, 2019

Baidu Wave Analysis – 24 March, 2019
  • Baidu reversed from support level 80.00
  • Likely to rise to 100.00

Baidu continues to rise after the earlier upward reversal from the key long-term support level 80.00 (which started the sharp weekly uptrend at the start of 2013).

The upward reversal from the support level 80.00 started the active medium-term impulse sequence (1).

Given the clear bullish divergence on the weekly RSI indicator – Baidu is likely rise further toward the next resistance level 100.00 (former powerful support from the middle of 2015).

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