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.
