Baidu Wave Analysis – 04 August, 2020

• Baidu rising inside wave (B)

• Likely to rise to 126.50

Baidu continues to rise inside the corrective wave (B) – which started earlier from the support level 114.00 (which also reversed the price in the middle of June), standing near the lower daily Bollinger Bad.

The price earlier broke the daily down channel from the start of June (which enclosed the previous wave (A)) – which accelerated the active wave (B).

Baidu is likely to rise further toward the next resistance level 126.50 (top of the minor correction B from June and the projected price for the completion of the active correction (B)).