Ore prices were around 140ish in April and May this year and RIO was 67ish.
Today ore and RIO prices exactly mirror those. At this point, I believe RIO risk:reward is very poor to step in now.
I'd rather wait if spot ore prices are holding 135 level.
On technical side, 6-wk straight up is also very overbought and vulnerable for retracement.
Ore prices were around 140ish in April and May this year and RIO...
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Last
$119.00 |
Change
-2.540(2.09%) |
Mkt cap ! $44.17B | |||
| Open | High | Low | Value | Volume |
| $120.56 | $120.69 | $119.00 | $216.2M | 1.800M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 130 | $118.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $119.13 | 1255 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| RIO (ASX) Chart |