RIO Mining set to jump 15%Rio Tinto ( RIO ) is showing entry signal in buying, MACD, and CCI.
Supplier of iron oxide, bauxite for AL, titanium dioxide for paints, coatings, copper, diamonds, and uranium as large-cap mining stock.
Metal prices have been bottomed and starting to climb, along with domestic sourcing needs for steel and uranium will send this one
to $60. Currently $51.48 and target is $60 by Pedro (Martinez) Lynch.
COMEX:HG1! COMEX:ZA1!
RIO trade ideas
RIO TINTO Can be an OCO?Using my "Imagined Reality", this seems like the formation of an OCO. In addition, the attraction of the 2 GAPs below helps confirm my imagination. If this happens, see:
1- Nothing is 100% in graphical analysis
2 - The fall of the asset will not be linear, there will always be "up and down".
3-As can be seen, I put a small blue line to show that the asset can still go up a little more, maybe 1 or 2 days, to form a head with neck and then fall.
Eye alive ... #luizdenot #xbroker
RIOTINTO - Trade SetupYou are looking at RIOTINTO, 1W chart.
after the completion of Cup and handle pattern a symmetrical wedge have formed, which the price is trying to break above the resistance.
If it break above the symmetrical triangle it will targetting the $91 price.
Also, the chart is bullish.
I will go "Long" for this.
RIO.ASX - Technical Analysis1. Long-term uptrend as long it holds above its 200 moving average.
2. Share prices gapped down on 28-2-2018 from 80.79 and its still down trading at around 76.88 in today's session almost touching it's 200 moving average.
3. The next support is at around 76.17 if it fails to hold at this level then prices might fall further to around 75.24 support
4. A break-out above 77.96 resistance could see prices move up to close the price gap at around 80.56
$RIO working on a bullish Cup & Handle patternThe Cup & Handle pattern is also potentially the right side of a multi-year Inverted Head & Shoulders pattern, which is very bullish if it can penetrate the neckline (70-72 area).
In the short-term, another small contraction near 70 would be very constructive.
Rio Tinto - Up or Down ?Rio has successfully completed a rising wedge pattern - broke down the support line and now it's slowly going to test it. It seems like very likely the support becomes a new resistance and stock is going to go down.
However, it has also stopped at the 50MA with slightly increased volume, which may signal also a support. Now, it is crucial to watch the lower trend line of the wedge, whether it breaks it back or not and based on that Rio will choose its next journey.
Great LONG opportunity on breakout of corrective structureIt seems we have a great opportunity for a LONG trade on the breakout of the corrective structure.
EMAs show price action has hit the Mayo on the reversal and has also just hit the Water with a wick at the bottom of the candle. In my opinion, on the breakout of the corrective structure, a great setup will have been confirmed to trade the entire Wave 5 Impulse wave.
Note: There are about 5 Cypher patterns possible in the Hourly chart, however too many mixed signals for Harmonic patterns to be used in this particular chart at this particular point in time, I've preferred to stick with a pattern breakout of corrective structure.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
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RIO Head & Shoulders off a supply levelThis reinforces the AUS200 short trade as miners represent a large % of the XJO
You really need to look at the quarterly chart as there is a bearish pin bar, this does not necessarily mean a major sell off - but it does mean a short term pullback is likely and this pattern is in line with the macro time frame picture