Since October 2022 RIO has out performed the SPX rally and appears to be in a developing Elliott wave Impulse pattern.
The December 2022 RSI reading was the highest since the rally began. Usually there's at least one RSI bearish divergence at significant peaks. This implies in the near - term more upside action.
If RIO can move above its top at 73.35, there's a good chance it could reach 80.00 to 82.00.
Mark
The December 2022 RSI reading was the highest since the rally began. Usually there's at least one RSI bearish divergence at significant peaks. This implies in the near - term more upside action.
If RIO can move above its top at 73.35, there's a good chance it could reach 80.00 to 82.00.
Mark