BIDU at the Beginning of a New Uptrend?

٢٤ سبتمبر ٢٠٢٤

BIDU at the Beginning of a New Uptrend?

Today’s strong stimulus measures from China have lifted market sentiment.

“China announced a slew of stimulus measures to boost its economy on Tuesday, September 24. The PBOC doubled down on its monetary policy easing by cutting both the 7-day reverse repo rate and banks’ reserve requirement ratio (RRR).”

China’s yuan hit a 16-month high, while the Australian dollar reached a 2024 peak after the central bank reiterated its determination to tame inflation.

BIDU also benefited from this new bullish sentiment by breaking a strong resistance zone near $90. If the price manages to hold this zone, we could see the beginning of a bullish wave soon, with targets at $96.50, $103, and further up to $112

You may find more details in the chart!
Thank you and Good Luck!

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٢٧ سبتمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول للهدف

BIDU: Two Targets Reached :)