Though data suggests that Tin witnessed a decline of 1.26 % in comparison with it’s other Industrial peers , the flow was certainly not very positive and their was a sudden and dramatic price rise on Wednesday with price rising above 21000 after posting a low of 20160 for the day. After that day price action remained range bound with 20950-21,000 acting as support . It remains to be seen whether it can hold on to this area as investors might look to book profits in the counter as holiday season looms and volume declines. Tin has been supported lately by very strong spreads that has repelled any price action on the downside and as inventory levels remain low officially.There has been reports of undisclosed stocks lying in Chinese ware houses and any rise in price may well see these buyers offloading their materials !
Commodity Trading Techniques and Strategies for Beginners