bought into rio today, looks cheap on pe basis, page-17

hi all.
looks as if the weekly .382% fib 79.31 is holding at present. if we close below 79.31 then next fib support is 77.38.
the bounce off the lower bollinger band on the daily at the start of the week looks to have no follow through and with the weekly still not oversold, a move down is on the cards.
one good sign is that there is now a small bullish divergence forming in the RSI on the daily.
you would to think the sp has held up well this week when you consider all the negitive press about commodity prices and world growth.
lets see what next week brings but for me shorting rio at this point is a no no.
any comments would be great.

have a good one.

582