TIN TODAY - me happy to hear ;)

TIN TODAY – Prices poised below resistance
23rd August, 2016 11:51 AM by Will Adams

Analysis
The dip was short-lived and prices are rebounding again. Tin was last at $18,470 – the high was $18,650.
The stochastics had pulled back but turned higher again in mid-ground given that the pullback was as limited as it was. If the sideways trading in the second quarter was a continuation pattern, the potential second up-leg could go far.
The March high only saw prices retrace to the 38.2% Fibo of the 2014-2016 sell-off – prices have now reached the 50% Fibo at $18,505; the 61.8% Fibo is at $19,765 The inverse H&S target is $19,520.
A look at a long-term chart shows prices are just moving up through the lower levels of the sideways channel that ran between $17,000 and $25,880 during 2011-2014 so there could still be considerable room on the upside.
Macro factors
LME stocks were unchanged today but the trend is lower – they were last at 4,630 tonnes, down from 6,050 tonnes at the start of July. The low this year was 3,655 tonnes before RBT started to liquidate its stocks, much of which is thought to have gone into LME-registered warehouses.
C-3s is back in a backwardation – it was last $28.25-48.25, in from $35.25-55.25 yesterday. Falling stocks and available stocks at the lowest they have been for many a year show that availability is tightening again. Tin stocks on the SHFE are also low at 2,374 tonnes.
SHFE tin prices have reverted to being at a small discount to LME prices but the difference is unlikely to attract exports yet, especially with Chinese tin production being affected by environmental inspections.
Conclusion
Tin prices look well placed to continue their move higher; we remain bullish.