Categories: Technical analysis

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)

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: BIDU

Recent Posts

Nasdaq-100 Wave Analysis 6 January 2025

- Nasdaq-100 reversed up from support zone - Likely to rise to resistance level 21855.00…

7 hours ago

Google Wave Analysis 6 January 2025

- Google broke daily Triangle - Likely to rise to resistance level 200.00 Google under…

7 hours ago

CAD Rises on Trudeau’s Possible Resignation

The CAD is increasing against the USD due to reports of Canadian Prime Minister Justin…

13 hours ago

Bitcoin is on the Verge of $100,000 Again

Bitcoin surges towards $100K as the crypto market cap reaches $3.5 trillion. Bitcoin displays signs…

15 hours ago

WTI crude oil Wave Analysis 3 January 2025

- WTI crude oil broke resistance area - Likely to rise to resistance level 76.00…

3 days ago

S&P 500 index Wave Analysis 3 January 2025

- S&P 500 reversed from support area - Likely to rise to resistance level 6000.00…

3 days ago

This website uses cookies