As you can see mining stocks have been hot in australia for 2019. However there is a lot of resistance coming up shown by the aeroplane box formed by fibonacci extensions. I would short rio in this box and wait for a pull back either to the 0.382 or 0.618 fib extension. If we break this resistance or eventually retrace back to the penguin box, I would have my eyes...
RIO might be worth a watch for anyone with a more conservative appetite. Has been running nicely since the start of the year.
Rio Tinto Limited is a mining company. The Company is focused on finding, mining and processing of mineral resources. The Company's operating segments include Iron Ore, Aluminum, Copper & Coal, Diamonds & Minerals, and Other Operations....
Epic shorting opportunity here!! The past 10 years looks to have been a huge 3-3-5 flat. Given we have had one impulsive wave to the downside prior to it, I believe we will get one more impulse to the downside to complete the correction.
Reasons for:
- B shows a clean 3-3-5 flat
- B completed at the .618 fib retracement of A
- we've only had one impulsive wave...
Double click price column to see this chart. My move perhaps a little early however, a long off this cypher pattern seems like a reasonable opportunity to get into RIO Tinto at this level even with price potentially consolidating over the next few days. I'm actually not concerned if this stop loss gets taken out as prior swings have been very profitable.. As...
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...
You 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.
1. 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...
The 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 Limited (Rio Tinto) is a mining company. The Company is focused on finding, mining and processing of mineral resources. Its segments include Iron Ore, Aluminum, Copper & Diamonds, Energy & Minerals, and Other Operations. Its products include aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide and salt), iron ore and thermal and metallurgical coal. The Iron Ore product group's operations are located in the Pilbara region of Western Australia. The Company's business includes bauxite mines, alumina refineries and a range of aluminum smelters. The Copper & Diamonds product group has managed operations in Australia, Canada, Mongolia and the United States, and non-managed operations in Chile and Indonesia. The Energy & Minerals has operations across six sectors: borates, coal, iron ore concentrate and pellets, salt and titanium dioxide.
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RIO
