Turpan

Rio Tinto - Up or Down ?

LSE:RIO   RIO TINTO PLC ORD 10P
Rio has successfully completed a rising wedge pattern - broke down the support line and now it's slowly going to test it. It seems like very likely the support becomes a new resistance and stock is going to go down.
However, it has also stopped at the 50MA with slightly increased volume , which may signal also a support. Now, it is crucial to watch the lower trend line of the wedge , whether it breaks it back or not and based on that Rio will choose its next journey.

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