Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>RIO stock price is in the consolidation phase demonstrating the fight between the bulls and the bears.</a> </li> 
 <li> <span>2</span> <a>RIO stock price is in a neutral state and the trend will decide whether the bull wins over the bears or the bears will overpower the bulls.</a> </li> 
</ul> 
<p>Rio Tinto Inc.’s stock price forecast suggests that both bears and bulls are yet to gain a proper grasp on the trend. Investors might prefer to wait for a confirmation of multiple technical indicators in order to decide the direction of the momentum or trend. There is a slight increase in the green candles of volume which suggests the RIO stock price is attracting buyers at the demand zone.</p> 
<p>Investor sentiments regarding Rio Tinto Inc.’s price are indecisive at present and may remain negative unless the buyers start stepping into the price action with substantial momentum. However, according to the technical indicators and price action, the odds are lining in the bull’s favor.</p> 
<p>RIO stock price needs to attract buyers to surge towards the upper trendline of the consolidation phase over the daily time frame chart. Meanwhile, the RIO stock price is trying to gather support and surge toward the 200-day daily moving averages. Rio Tinto shares have been consolidating inside the horizontal price range of 5256 GBX and 4871.00 GBX.&nbsp;</p> 
<p>Nevertheless, Rio Tinto Inc.’s stock price has increased to around 3.06%. Also, the RIO&nbsp; share price gained around 1.04% in the last three months and is down by 7.69% over the last six months. However, the Rio Tinto Inc.’s stock chart shows a range-bound momentum. The analysts believe that the share price may bounce back from the lower levels in the daily time frame.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-rio-stock-price-technical-analysis-strong"><strong>RIO Stock Price Technical Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1433" height="652" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457.png" alt="RIO Tinto Stock: Who Will Dominate RIO Stock, Bulls or Bears?&nbsp;" class="wp-image-176263" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457.png 1433w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-457-1140x519.png 1140w" sizes="(max-width: 1433px) 100vw, 1433px">
  <figcaption class="wp-element-caption">
   Source: RIO TINTO.1D.LSE by TradingView
  </figcaption>
 </figure>
</div> 
<p>RIO stock price must initiate its recovery rally to reach the upper threshold of the consolidation phase. However, the RIO shares need to accumulate buyers in order to surge towards its recovery phase. Meanwhile, the share price has jumped above the 20, 50, and 100-day daily moving average.</p> 
<p>Moreover, RIO shares must register its breakout from the consolidation phase over the daily time frame chart.</p> 
<p>Technical indicators suggest the consolidation phase of the Rio Tinto Inc. <a href="https://www.thecoinrepublic.com/2023/09/26/snps-stock-forecast-is-500-achievable-for-nasdaq-snps/" target="_blank" rel="noreferrer noopener">stock price.</a> The relative strength index (RSI) showcases the upward momentum of RIO shares. RSI was at 57 and is heading towards the overbought territory.&nbsp;</p> 
<p>MACD exhibits the consolidation phase of the RIO stock price. The MACD line is flat above the signal line waiting for any type of crossover. Investors in RIO stock need to wait for any directional change over the daily time frame chart.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>RIO stock price is consolidating in a tight range. MACD and RSI give a bullish outlook on the daily time frame. RIO stock price may soon give a breakout above the $5300 level and can start a bullish rally.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: 4871 GBX and 4503 GBX.</p> 
<p>Resistance levels: 5256 GBX and 5451 GBX.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

RIO Tinto Stock: Who Will Dominate RIO Stock, Bulls or Bears?

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