TBF is poised for a major breakout of its long-term downtrend channel short term bullish wedge. As interest rates continue to rise, TBF is poised to benefit. Both the fundamentals and the chart are beginning to align. I will be taking a position in TBF sometime this week.Trade active
This trade idea remains active. TBF is breaking out of the wedge and the downtrend today. I will go long TBF at the close of trading on the NYSE (4:00 PM EST) if the price remains in a breakout position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.