First Trust ISE Water Index Fund (FIW): further advance.
- Pivot 46.1
- Our Preference long positions above 46.10 with targets at 48.50 & 49.25 in extension.
- Alternative Scenario below 46.10 look for further downside with 45.30 & 44.50 as targets.
- Comment the RSI advocates for further advance. Prices broke above a flag continuation pattern.
First Trust ISE-Revere Natural Gas Index Fund (FCG): further upside.
- Pivot 20.4
- Our Preference long positions above 20.40 with targets at 22.90 & 23.80 in extension.
- Alternative Scenario below 20.40 look for further downside with 19.45 & 18.55 as targets.
- Comment the RSI is supported by a rising trend line. Prices are ranging within a bullish channel.