Baidu (BIDU) found resistance last week just below 194, but not before confirming a bullish breakout from a triangle a we can see on the daily chart.Baidu (BIDU) Daily Chart(click to enlarge)The Breakout Confirmation:- While Baidu has been trading in triangle since the end of 2015, it looks like it has began a bullish mode in the this last upswing since March.- First there is a breakout from a triangle resistance. - Then after price pulled back, it bounced off the 200- and 100-day simple moving average cluster. This is known as a bullish slingshot signal.- The RSI also held above 40 after pushing above 70. This suggests price action is keeping the bullish momentum this time. - Finally, price broke the February high, showing that it can make higher highs and higher lows. This is probably the most important fact for the bullish outlook.Another Bearish Correction?- Price ended last week failing to push through 194. It looks like a mini-double top under 194. Also, the Friday candle was a bearish engulfing one. - I would anticipate some bearish correction before price continues higher.- I think price should hold above 180 in a bullish mode, given some elbow space. - A break back below 175 would make this prevailing upswing a false breakout, which would then open up the downside.Upside:- Let's say price holds above 180. Then, we can anticipate upside towards at least 200. - A slightly more aggressive bullish outlook for 2017 would be a support/resistance pivot area around 220.