![]() This suggests a bullish outcome provided the rounding formation is not broken to the downside! Rio Tinto: monthly chart This is a very enticing chart setup, a typical rounding bull flag formation in the context of a long term rising channel. The monthly line chart of Rio Tinto shows a huge consolidation of cup shape since the 2008 top, price looks set to challenge ~ 118 price zone again. We take a look at the chart from Australia. Rio Tinto (ASX: RIO) is listed in America, Australia, Switzerland, UK and Germany. ![]() It would ultimately send price higher to challenge 55.3 PICK ETF: the monthly chart If the right shoulder scenario does not play out and price moves higher than the ‘head’ it would suggest a continuation of the uptrend. The monthly chart of PICK show that its price found supported twice in the 25.5 – 28 area. ![]() The iShares MSCI Global Metals & Mining Producers ETF (PICK) seeks to track the investment results of an index composed of global equities of companies primarily engaged in mining, extraction or production of diversified metals, excluding gold and silver. We believe it’s sufficient to analyze the top diamond stocks as opposed to all diamond stocks. We made a selection of the top 8 diamond stocks. That’s why we focus on the top diamond stocks. 8 Top Diamond Stocks And Their Chart Setup for 2019, 2020 and beyond The following list of stocks spread across few countries would cast some light on the better futures of diamond miners. The reasons why we believe so are outlined in this article. We expect diamond stocks to outperform in the next 2 to 3 years. The bullish outlook is for the medium to long term. As explained in this article we see a potential of turnaround in the sector from bearish to bullish. InvestingHaven’s research team flashes an alert on the diamond mining sector. Note that the sector is not an easy read. Diamond stocks have many influences, first and foremost the demand combined with the price of the U.S. However, as shown in this article, diamond stocks look to be bottoming at current price levels. Alert on Top Diamond Stocks for the medium to long termĪs pointed out by Bloomberg diamond stocks were crashing one and two years ago. produces almost no diamonds for commercial consumption, America buys more than 40 percent of the world’s gem quality diamonds – making it the world’s largest diamond market. The discovery occurred in Minas Gerais, Brazil, just as the production in India was dwindling.Įven though the U.S. Moreover, and certainly very interesting to read, there are many facts about diamonds which are not well known.įor instance, diamonds were formed billions of years ago through a combination of tremendous pressure and temperatures of 1652–2372 degrees Fahrenheit at depths between 90 and 120 miles beneath Earth’s surface.ĭiamonds were discovered in South America as early as 1725. So, let us also take a look some methods in which rough diamonds are extracted from the ground.” This is a quote that illustrates what we are saying: “Even with all our technological advances and engineering tools, diamond mining still incorporates a certain level of art and science combined. It highlights the diversity and complexity of diamond mining. Much more about diamond mining in this article.
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