Further Losses Expected on Rio Tinto

Share On Facebook
share on Linkedin
Print

Rio Tinto shares (LSE:RIO) are extremely weak right now, and the weakness is expected to continue. This is a wonderful opportunity for sellers, who can make more money by continuing to sell the shares. Every week proffers attractive trading opportunities; and you can take them.

In the chart, it can be seen that the price is below the EMA 20 and the Williams’ % Range period 20 has gone towards the oversold territory. Long positions are not recommended, for this is a bear market. Any rallies that can be experienced would simply offer nice opportunities to short further.

No long-term reversals can materialize right now because the bears have refused to cooperate with the bulls. If “19,” refuses to cooperate with “1,” it would never become “20.” The next target for the sellers are now at the support level of 2000.

Those who are victorious in the markets have certain things in common. These things were not in your nature, as good as they are. You need to inculcate a winning mindset as well as a useful trading approach. You surely need a positive outlook and a positive expectancy system.

This forecast is ended by the quote below:

“Anyone can have short term success by being in the right place at the right time, but consistency is what differentiates the pros from the amateurs, the timeless legends from the one hit wonders.” – Mark Minervini

What Super Traders Don’t Want You To Know: Super Traders

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210418 09:13:59