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.

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The FxPro Tech Analysis Team
Tags: BIDU

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