ANTO.L finds buyers at key support level
Antofagasta plc (ANTO.L) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
ANTO.L ended Thursday at 1065.00 losing £16.50 (-1.53%). Today's closing price of 1065.00 marks the lowest close since May 31st. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ANTO.L as at Jun 14, 2018):
Thursday's trading range was £23.50 (2.19%), that's slightly below last trading month's daily average range of £24.68. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After trading as low as 1053.00 during the day, the market bounced off the key support level at 1058.00. The failure to close below the support could increase that levels importance as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.