Turpan

Is Antofagasta going for its new high?

Long
LSE:ANTO   ANTOFAGASTA PLC ORD 5P
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 .

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