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Antofagasta

CHILEAN COPPER MINER - ANTOFAGASTA - SETS UP FOR BUY This massive Copper-Miner, Antofagasta presented in a scan and I could see the huge demand side from a couple of years ago and upwards sloping chart from left to right. Then all of a sudden 'bam' and the healthy demand side turns to supply and selling. But in the past month or 2, buying has reemerged inside of a triangle-pattern-daily-chart and it I am getting buy signals on MACD, the Squeeze indicator is also talking back at me, I will watch this over the coming sessions to make an entry. Watch this space.
EIGHTCAP:ANTOLong
by Easy_Explosive_Trading
Is Antofagasta going for its new high?This copper mining company has been in a bullish long-term uptrend since last year until it topped in February 2017 and started to go rather downwards. This medium-term downtrend was broken now keeping a track of short-term uptrend again. Money flow measuring volume has entered buying territory and MACD entered positive half where MA line is nicely diverging from a signal line. Copper price finally bounced from its bottom last December and has been trading around 2.6 usd/lb, which is already a reasonable price for mining companies to record profits on sales. I would consider this set-up as a good buying opportunity with stop-loss at 825 - in case it's still forming its base reversing back to 750 level at its big support level.
LSE:ANTOLong
by Turpan