$RIO Oversold Finding Support$RIO bounced off support recently in the mid-40s. Expecting further rebound into the back half of 2018.
Long term target - $60 by year-end
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
Rio Tinto: downstream channel (LTB)Impressive as Rio Tinto manages to Up and Falling the same time. .. #LuizDenot @LuizDenot #RioTinto #XBroker
GAP and DOJI TogetherBig chances of tomorrow to be a day of purchase and return to average. #LuizDenot #Xbroker
Reverse to mean short trade on RIOSimple risk-reward trade
Return to MA
Volume is dropping while trend is bullish
Rio Tinto collapsed in 3'Rio Tinto gave a clear warning 3 days ago that it wasn't going to continue further. It halted for 2 days..and all of a sudden it collapsed down 3,5% in 3 minutes..astonishing.
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 Tinto Limited $73.8 Break below the support (Test)Rio Tinto Limited $73.8 (Mainly mining and processing of mineral resources)
Break below the support $75. Next possible support could be around $68
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 coming out of Cup & Handle patternIt's looking good now but there is still some work to do. A weekly close up here would be very bullish.
$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 Buy setupRio tinto
We have an interesting Buy zone at median line extensions of our pitchfork.
Good luck !!!
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.
Short RIOStochastic RSI signaling the ADR is overbought, DM+ at 37.7 nearing trend exhaustion (DM+>40), and a bearish doji star candle formation.
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
Divergence in mining names After some consolidation the materials sector took a hit of Chinese stockpiles and Trump not repealing Obamacare
RIO Monthly ViewRIO (one of my friends ask my view for this stock)
After a BAT pattern
Price already rally to the previous neck line
I expect a correction may happen
Pay attention to 29.80 level
That will be a good entry level to long
TP1: 42.61
TP2: 56.82
