Two ETFs On Our Watch List (EIS, FCG)

sellbuyMorpheus Trading:┬áIn the chart below, iShares Israel ETF (NYSEARCA:EIS) broke out from a tight, five-week base above a rising 50-day moving average. We are looking for a three to five bar pullback as the entry. The target is around the $54 – $55 area, where there is resistance on a weekly chart:

$EIS breakout entry

Our current long position in First Trust ISE Revere Natural Gas (NYSEARCA:FCG) has yet to prove itself, as it remains range-bound, but looking at the monthly chart below it clearly has potential.

The first hurdle to clear for $FCG is the two-week high and the 10-week MA (around $19.40).

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