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Thanks [USER=57364]@Skate[/USER] . I agree that RIO is looking likely to go higher in both the short term and medium term. Of course if they put a bid in for Anglo (rumours) that'll devalue the shorter term potential.

The weekly chart looks bullish as the recent 2024 pull-back stopped in the 50-62% PB buy zone. Traders using daily charts could have been prepared for the bounce off the post div swing low ($115). My daily trend went blue (up) after he first close above $120. Currently price is in a small range ($133 - $127). A break-out >$133 would start the next swing higher and probably reach the yearly high near $137. After this, RIO will need ongoing commodity price rises (weak USD) to rise further.

[ATTACH=full]177217[/ATTACH]

[QUOTE="peter2, post: 1279718, member: 13908"] Thanks [USER=57364]@Skate[/USER] . I agree that [B]RIO[/B] is looking likely to go higher in both the short term and medium term. Of course if they put a bid in for Anglo (rumours) that'll devalue the shorter term potential. The weekly chart looks bullish as the recent 2024 pull-back stopped in the 50-62% PB buy zone. Traders using daily charts could have been prepared for the bounce off the post div swing low ($115). My daily trend went blue (up) after he first close above $120. Currently price is in a small range ($133 - $127). A break-out >$133 would start the next swing higher and probably reach the yearly high near $137. After this, [B]RIO[/B] will need ongoing commodity price rises (weak USD) to rise further. [ATTACH type="full"]177217[/ATTACH] [/QUOTE]

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