NYLEX hit an intra-day high of 74 sen, the best since January 2011, on follow-through buying. Apparently, all short term indicators are painting a promising pictogram, implying more uptrend going forward, with initial resistance expected at the 80-sen mark. Current support and the next upper stiff resistance are seen at the 68 sen and the 90 sen-92 sen band respectively.
PETALING Tin shares attempted to firm on renewed bargain-hunting interest after the recent brief and shallow corrections. Based on the daily chart, prices are expected to encounter significant resistance at the 38 sen-40 sen range, a decisive breakout of which would see the bulls becoming more aggressive, en route to the 55-sen level. Initial support is resting at the 30-sen mark.
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