Tin Near Double Bottom Signals Price Climb: Technical Analysis
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Tin, this year’s second-best performing base metal on the London Metal Exchange, is poised to form a so-called double bottom, which will help it advance to the highest level since 2011, according to Barclays Plc.
Tin may gain to $25,888 a metric ton next month, Dhiren Sarin, chief technical strategist for Asia Pacific at the bank, said today. That would complete the double-bottom pattern and push prices to $31,400, the highest level since May 2011, he said by phone from Singapore.