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Rio Tinto uptrend looks set to continue, says Zak Mir

The Rio Tinto PLC (LON:RIO) share price is set to continue its recent momentum and could close in on the £40 mark, according to technical analyst Zak Mir.

“The big turnaround came around the end of June last year with the break through the 200-day moving average and then the higher low for September underpinning the uptrend,” Mir explains in the latest Proactive Investors Tip TV Bulletin Board segment.

“We’re in a rising trend channel which we can draw from June. The top of the channel is probably heading as high as £38 or £39 and that’s the target for the next two to three months.”

 
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