In today’s briefing:
- TSM Finessing a Top
TSM Finessing a Top
- TSMC US ADR (TSM) squeeze higher still has a dip and rally sequence to work into a top. USD low due in December and will form a top near 87/88.
- We are keen to buy a pullback for a minor new high but the bigger trade is to short near the 88/90 resistance.
- Global cycle peak and USD bottoming in December is a key input. TSMC’s macro trend remains down.
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