Rio’s Price Climb: Breaking Out of a Long-Term Downtrend

RIO has successfully broken free from a long-term downtrend, with weekly chart data indicating momentum near key Fibonacci resistance zones. 10, 30, and 60-day EMAs displayed bullish crossovers, signaling short- and mid-term strength after months of downward pressure. Notably, the absence of a retest following the breakout above the trendline suggests confidence from buyers and potential for continued upside movement.