While precious metals like gold and related equities have been top-performing assets this year, the industrial metals complex has picked up in the second half, showing technical improvement as we approach 2026. Rio Tinto (RIO) is a global leader in mining iron ore, aluminum and other metals. In November, RIO confirmed a breakout above long-term trendline resistance dating back to 2021. The breakout resolves a multiyear consolidation phase to the upside, a bullish development for the months ahead. The monthly MACD has moved into positive territory, reflecting a meaningful bullish shift in long-term momentum. RIO has an intermediate-term uptrend in place, with price holding above support from its rising 50-day (10-week) moving average near $70. The uptrend is supported by the weekly MACD, and a new weekly stochastic “pop” higher bodes well for a strong finish to the year. An intermediate-term upside objective is defined by resistance at the 61.8% Fibonacci retracement level near $79. Relative to the broader U.S. equity market, RIO has seen momentum improve notably in Q4. The ratio of RIO to the S & P 500 Index (SPX) has the look of a bullish rounded-bottom pattern and is now supported by its rising 40-week moving average. The improved setup in the ratio suggests RIO is likely to outperform the broader equity market in the first half of 2026. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: None. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . 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