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Krab
Dec 23, 2014 2:42 PM

Rio Tinto Plc: gauge fails to break through support level Long

Rio Tinto PlcNYSE

Description

This week, Rio Tinto Plc tested the lower bound of the trend at USD 41, with a bullish engulfing candlestick pattern shaping up at the end of the week. This is a strong signal pointing to the beginning of movement toward the upper bound of the trend at USD 56-58. Notably, there are no divergences in the RSI, and downward movement may occur, which may be used for buying.

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