MSC Long Trading IdeaToday, we explore the buying opportunity base on trendline support, weekly 20 EMA support, Fibonacci retracement and area of support base on price action.
Technical Analysis:
1) Uptrend
- As refer to the chart above, the uptrend is still intact. Previously, it broke the consolidation area at 2.18.
- 30 EMA above 50 EMA / 50 EMA above 100 EMA / 100 EMA above 200 EMA
2) First fractional buying opportunity:
- Trendline support
- Weekly 20 EMA support
3) Second fractional buying opportunity:
- Buy on Fibonacci retracement level at 0.618 area.
- Couple with area of support around 1.9
Fundamental Analysis:
Semiconductor manufacturing is a key source of demand for tin, and therefore once the electronic device demand began to wane, as did the demand for tin.
Mid term and Long term investment trading.
