Baidu $BIDU has been consolidating since October, but was in a bullish breakout this week as we can see on the daily chart below.BIDU Daily Chart(click to enlarge)Breakout and Pullback:- The daily chart shows a market that turned sideways after a bull run.- But after holding above $210 a couple of times, price eventually pushed into a new high around $284 this week.- However, at the end of the week, price retreated sharply. - This pullback could present a buy-on-the-dip scenario. - We should monitor the $240-$245 area for support.- This was the central area of the broken range, and is where the 200-, 100-, and 50-day simple moving averages (SMAs) reside.- Furthermore, we should monitor for support if the RSI approaches 40. - If the RSI does indeed turn back up around 40, and price holds above $240, we still have a bullish outlook at least back towards the $284 area, with the prospect of pushing towards $300. - A break below $240 on the other hand would reflect a market that is still in consolidation mode.