RIO Stock Analysis and Elliott Wave technical forecast [Video]
ASX: RIO TINTO LIMITED – RIO Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart).
Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with RIO TINTO LIMITED – RIO. We see RIO possibly rallying with wave ((iii))-navy after some time, but not now as wave ((ii))-navy will probably still push lower one more time.
ASX: RIO Tinto Limited – RIO 1D chart (Semilog scale) analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((ii))-navy of Wave 3-grey.
Details: Wave ((ii))-navy may still have one more leg to push lower to complete the entire Zigzag pattern. Then wave ((iii))-navy may push higher. The ALT alternative…
