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.
