Categories: Technical analysis

Baidu Wave Analysis – 24 March, 2020

  • 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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: BIDU

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