I have analysed RIO.ASX while ago and the Tentative Bullish Price Objective from it’s PnF chart was @ $50.05. That is still active and valid.
I am at present, waiting to get a SHORT TERM BULLISH REVERSAL SIGNAL ( a higher high close giving me a pivot point reversal or like) in the MAJOR MONTHLY TF. If on hand, that would signal a halt/stop to it’s short term major down trend in the MAJOR TF. Lets see if we get one by the month’s end ?
$48 – $51 zone is a significant zone of resistance which may also be worth monitoring.
Rio.ASX intra month monthly chart below.
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