Short term view - ANTOFAGASTA PLC : Without trend
A correction is underway. The trend is not bullish anymore as the previous significant low has been broken, but it is not yet bearish. We do not have two descending peaks and troughs. The trend is neutral.Arguments :
- The support is close.
- The resistance has been reached, it causes the fall.
- Prices are breaking below the moving average.
Antofagasta is a Chilean copper mining group engaged in the discovery, development and operation of copper mining assets. Co. operates four copper mines in Chile, two of which also produce significant volumes of by-products. In addition to mining, Co. has a transport division that provides rail and road cargo services in northern Chile primarily to mining customers, including to some of Co.'s own operations. Co. is organized into two business divisions based on their products: Mining and Railway and other transport services. The mining division is split by mine and exploration activity. The transport division provides rail cargo and road cargo together with a number of ancillary services.
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