Market Snapshots

Baidu Wave Analysis 9 February, 2021

Baidu Wave Analysis 9 February, 2021

• Baidu rising sharply

• Likely to reach resistance level 320.00

Baidu continues to rise sharply after the price broke above the major long-term resistance level 284.00 (former multi-year high from 2018).

The breakout of the resistance level 284.00 is aligned with the very strong daily and weekly uptrends of this instrument – as can be seen below.

Baidu is likely to rise further toward the next resistance level 320.00 (forecast price for the completion of the weekly impulse sequence III from last year)

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