Tin May Advance 21%, According to Sucden: Technical Analysis
Investing News Network - July 20th, 2010
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.
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.