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Digging for returns in Chilean mining
Joe Neighbour is focussing on Chilean mining company Antofagasta. Off the back of some positive news, yesterday’s session resulted in a sharp move higher. On the technical front Joe sees a double bottom on the chart with a break above key resistance levels.
The move higher is supported by a large increase in volume with a break higher on a relative ratio vs. the FTSE All-Share index. Joe expects the momentum to continue in the near term and his aim is to buy into weakness towards GBP 8.00 expecting a move towards GBP 8.80 with a stop at around GBP 7.55
00:57 minutes
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