ANTO.L breaks below 200-day moving average
Antofagasta plc (ANTO.L) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
ANTO.L finished the week 0.17% higher at 961.20 after losing £17.80 (-1.82%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. 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 Aug 10, 2018):
Friday's trading range was £18.20 (1.88%), that's below last trading month's daily average range of £24.69. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already. The market broke below the 200-day moving average at 966.73 today for the first time since August 2nd.
Buying might speed up should prices move above the nearby swing high at 984.20 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 939.60 where further sell stops could get triggered. Further selling might move prices lower should the market test July's nearby low at 925.00.