RIO 1.02% $120.09 rio tinto limited

has rio topped out for now?, page-12

  1. 9,485 Posts.
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    re: has rio topped out for now?(chart) I get a major resistance line coming in at 37.50 guys , just incase u didn't see it .
    Top of 41.50 and 38.50 .

    Minor gap at 37.30/70 , interesting that it's half way between where the major line comes in .

    From our bottom at 32.00 to first top at 35.96 took 28 days .
    We are now 28 days [Monday] from the low of 34.60 but the range is a bit short .
    Im not sure how the above is gunna play out .

    My system breaks down until the first range repeats .
    So am unsure of whether we even have a full range in yet .
    Using a bit of Bill Mclaren philosopy note how RIO hasn't traded more than 2 days down in a row . I don't consider the bottoming pattern of 4 days down relevant .

    Thought I'd throw the above in just to add to the confusion but it's all true .
    But a big gap open tomorrow at any of the above numbers should result in some profit taking .

    ge
 
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