Baidu: ⬇️ Sell
– Baidu reversed from key resistance level 119.00
– Likely to fall to support level 100.00.
Baidu recently reversed from the resistance zone between the key resistance level 119.00 (which has been reversing the price from June), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from March.
The downward reversal from this resistance area stopped the previous medium-term impulse wave (3) from June.
Given the clear daily downtrend, Baidu can be expected to fall further to the next round support level 100.00.