Rio Tinto – Inverse H&S breakout on weekly

Rio Tinto weekly chart shows inverse head and shoulder breakout, although subsequent rise has been capped repeatedly around 2550 levels.

On the daily chart , both the RSI and money flow index suggest increasing bearish pressure on prices.

Hence, we could a minor drop to 2390-2350 area.

However, overall view stays bullish unless the weekly close is below neckline support level .
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