sushimonster

FCG Ascending Triangle about to breakout. 25% increase in price

Long
AMEX:FCG   First Trust Natural Gas ETF
FCG: FIRST TRUST NATURAL GAS ETF

The ETF is just coming out of the lows and it has formed an ascending triangle . It is testing the resistance breakout trend line again. After a successful breakout, it should retest the trend line as support and eventually reach the target price of ~$22 which is about a 25% from the breakout point. The Oscillators also look good to me.
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.