Tin closed up by 2.68% to 33460.0 on 23 January 2021 and +10.15% on a weekly basis. Tin momentum was last calculated at +100.0/100 indicating positive momentum. Tin trend is +100.0/100 indicating a positive trend. Tin momentum exhaustion is 2.48483 indicating Tin is oversold.Tin RSI is 84.5863 .
Tin closed at 33460.0 on 23 January 2021. Tin trend was last calculated at +100.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Tin momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Tin momentum exhaustion is 2.48483 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Tin is oversold and a possible reversal is imminent. Tin RSI was last calculated at 84.5863. Tin moving averages were last recorded as follows: 1-month moving average: 19765.5 in an uptrend , 1-quarter moving average: 18871.7 in an uptrend and 1-year moving average: 17119.0 in an uptrend. Tin annual return was last recorded at None%, daily return was last recorded at 2.68%, and weekly return was last recorded at 10.15%. Tin histrorical 20-day volatility was last recorded at 10.0283%, Tin alpha None, Tin beta None and Tin maximum drawdown was recorded at None%. MacroVar models monitor Tin statistics based on historical data since 1970.
Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.
MacroVar Tin momentum signal ranges from -100 to +100. The
Tin momentum signal is derived as the mean value from 4 calculations for the China Import Dry Bulk Freight Index CDFI. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Tin return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1.
Tin BADI momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when
Tin momentum signal moves from positive to negative value or vice-versa.
Tin trend signal ranges from -100 to +100. Tin trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Tin Closing price vs
Tin moving average (MA) calculation: If
Tin is greater than Tin MA value is +1, else -1, 2. Tin Moving average slope calculation: if current
Tin moving average is higher than the previous MA,
Tin upward slope +1, else -1
Tin trend model can be used as a trend strength indicator.
Tin trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Tin trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Tin 52-week simple moving average and its slope are the most important indicators defining a market’s trend.
Tin is in an uptrend when Tin price is higher than the 52-week moving average and the
Tin 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the
Tin oscillator and Tin RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
The Tin oscillator estimated by MacroVar is the z-score of the current
Tin price versus Tin 1-year simple moving average price. The formula for the
Tin oscillator is:
Tin oscillator = (Current Price – 250 trading days
Tin simple moving average price) / (250 days Tin price standard deviation)
Tin oversold conditions
Tin is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the
Tin is oversold it is often due for a rebound. Values of the
Tin oscillator lower than -2.5 signify oversold conditions. It must be noted that the
Tin oscillator must be analyzed ibn conjunction with the rest of
Tin quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the
Tin overbought conditions
Tin is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the
Tin is overbought it is often due for a correction. Values of the
Tin oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the
Tin quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.
Tin RSI Indicator
The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Tin is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During
Tin uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.
MacroVar calculates Tin returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:
Tin returns = (Tin Closing Price Previous Price)/(Tin Previous Price)