RIO Tinto

This looks bearish short to mid term IMHO, with a crossover of moving averages.
This is a chart from yesterday.

uk.advfn.com/p.php?pid=chartscreenshotsh...Y9Uw%3D&symbol=L^GKP

Should at least test the long term trendline at around 2950(ish) rising daily.
failure could test the falling channel trendline at around 2550p IMHO.
One to keep a eye on.

Regards,
Trendfriend.

Is that one big, multi-shouldered head and shoulders like pattern? I mean the concept of H&S being increasing then decreasing peaks, this looks kind of similar...

Would we be looking to go long at support or waiting for a break and going short?

What are the other indicators pointing towards?

(Sorry for all the Q's, I've still got a lot of learning to do!)

Cheers
Woody

RIO approaching long term support....

This looks goood for a trendline bounce. It should hit the trendline tomorrow.
uk.advfn.com/p.php?pid=chartscreenshotsh...Gw%3D&symbol=L%5ERIO

This is a close up.
uk.advfn.com/p.php?pid=chartscreenshotsh...KU%3D&symbol=L%5ERIO

Long from 3160(rising daily)

Regards,
Trendfriend.

This should be a free trade if you managed an entry!

This nearly had a 123 low breakout today

I have orders to open for long on open tomorrow above 3250

SL will be 50 points (Ideal 3173, 2 of 123 low but its too far away from entry)