Tin May Advance 21%, According to Sucden: Technical Analysis

Tin, this year’s best performer on the London Metal Exchange, is expected to rise as much as 21 percent to $21,708 a metric ton in the next few months, according to technical analysis by Sucden Financial Ltd.

The press release is quoted as saying:

The metal, used mostly to make electrical solders, may advance to as high as $21,708 a ton, a 76 percent retracement of the drop between May and December 2008, according to Brenda Sullivan, a technical analyst at Sucden in London. That level is singled out in so-called Fibonacci analysis.

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