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tin prices this year will demonstrate reversal pattern «W»

tin prices in 2013 will demonstrate one of the most famous figures of the alphabet stock trading — the so-called «Double Bottom» («double bottom»). Such a forecast of developments in the non-ferrous metal market analysts announced «Barclays» financial conglomerate — the largest international investment market operator with headquarters in London.

To quote the price chart formed a classic «double bottom» (in the figure, shaped like a letter of the Latin alphabet «W»), indicators of the cost of a lot will first have to dive into a protracted downtrend, then, while on a local minimum (without long horizontal band), to withdraw from the peak to the level of 10−20% higher than the price of the first floor, again to break down (the bottoms should be approximately equal in depth), and after that to strive for the highest possible marks.

According to the chief technical strategist «Barclays» Country APR — Direna Sarina — in the near future the price of tin are more likely to get to the level of 25 900 US dollars per 1,000 kg. It will happen — according to a representative of the British Office — no later than the beginning of spring. And then the experts «Barclays» expect steady bullish trend, which slowed down, reaching a figure of only 31.4 thousand. USD per ton of metal. These figures are close to the tin quotations in April 2011, when the price of the resource has reached record heights.

Recall: the last 3 years minimum price of tin on the London Stock Exchange according to non-ferrous metals was 16.7 thousand US dollars per ton. These results were recorded on the LME in February 2010. That summer the resource costs took steady course for a positive and stopped the bullish trend (with a slight dip in October-November) only in February of 2011, where the graph showed analysts still a classic reversal pattern — «Double Top» with an absolute maximum of 32, 27 thousand USD. In the current year, from January 1st (in anticipation of operators of Indonesian metal supply market downturn) tin trends have displayed a rise in price by almost 7%, shifted from a position of 23.4 thousands of dollars to a level of 24.97 thousand. USD per ton according to LME the end of the week.

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