RIO 0.87% $124.51 rio tinto limited

rio targets based on pure mechanical

  1. 9,485 Posts.
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    Rio has been very slow to fill the major top of what I consider range 2 .
    On a long term basis I had been figuring on 42.50 ish [give or take a little] note I've called this approx number in the past .

    I get next major resistance level between 41.56 - 41.79 plus the all time high is around there at 41.51 so watch that carefully as well .

    Up ranges in this leg off 31.98 are ;
    31.98 - 35.96
    34.60- 38.35
    35.70-39.63
    36.30-40.20
    37.81- ?

    The surprising thing is that we often witness only 4 uplegs [small ranges ] in the bigger picture which means the tops in but it just don't feel like it to me so will stick by the next set of numbers until I see last major swing low broken .
    cheers ge
    ps; dont trade my figs but thought the above worth pointing out plus it gives me bragging rights if I get a hit
 
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