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Our existing position in First Trust ISE Revere Natural Gas ($FCG) continues to trade in a tight range on the weekly chart, holding above support of the 10-week moving average. The weekly chart really shows how the price action has tightened up since mid-July. From March to June, the average 6-week price swing from high to low was around 14%, but over the past 6-weeks the high to low of the range is slightly less than 5%, so the action has tightened up considerably. Whenever the price action coils up up near the highs of the range (within a long consolidation) it is usually a bullish sign, indicating that a potential breakout is near.

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