DAILY RIO ANALYSIS

Rio as anticipated reacted positively to it’s LONG TERM SUPPORT (Shaded zone at the bottom) in the short term at least. Marking the first short term RESISTANCE ZONE which it may test.At times between selling climaxes (SCLX) and the automatic rally (AR) thereafter, there may be around 38-50% Fib. retracement of the prior move. Will that be the case remains to be seen.

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Thanks.

riodailytct

 

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