Great posting of the current tin prices and stocks on hand by all other members.
Also the FA is ALWAYS appreciated, just to keep our eyes on the prize.
Unfortunately I'm still too silly to be able to get my current system to post charts onto HC, so I will try to DESCRIBE what looks to be unfolding, technically.
It is really simple, so throw up a few numbers on your current platform, and have a poke around..
So far, my call for the SP to close at .32 on the 16th came to fruition, and the next 8 days look FAR more interesting.
My call of around 25 ish on the 24th of this month might be in jeopardy due to the surging the price of tin, bit I will keep it anyway.
However... More interesting formations have ALSO shown their heads.
*We APPEAR to be within a seriously good cup and handle formation.
If the handle drifts down to around 27ish, then turns upwards, exceeding the last couple of x 0.32 tops, then we then look to be heading towards a ( hopefully) sustainable break upwards.
I think the next real resistance is around.37 and .41, but I can't recall at present.
I can upgrade this post if I'm incorrect in my recollection.
*OR, we may currently also be forming a nice, short term, bullish pennant.
If the current price drifts downward to around 24.5 - 25.5, then moves up past that pesky .32 top again ( which is now resistance), then we again should face yet another sustainable break north.
*If either of these patterns do form, and some of the major shareholders stops pissing about with this highly disruptive derivative trading, we MIGHT also be looking at reasonably strong phase one of a Gann impulse surge.
I'm quite new to Mr Gann's charting formations and equations, so it is definitely an observation by a complete amateur only.
...and last, but not least, the price is being deliberately kicked and held downward , in order for some sort of 'rebalancing' of the current register.
If this is the case, then all bets are off. The SP could land anywhere...
As things are right now though, we are both technically and fundamentally in a MUCH better position than we have been recently, so I sleep much better.
The future does look much brighter until around mid 2024-25 at least.
The fundamentals of tin supplies are more directed to tin supply excess again, but demand may still exceed supply at that point.
This is still a little too far away to gauge as yet.
Right now, however, It's now time to let the management do what their healthy salaries are meant to , and work vigorously at resuming a solid capital return, to current holders.
** Definitely DYOR , as I'm far to stupid to be taken seriously, and my charting abilities are akin to my absolutely limited ability to walk and breathe, at the same time...
(20min delay)