Commodities snapshot (energy)

Energy pack is green today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is back from red as Saudi Arabia signaled cooperation with OPEC members and non-OPEC countries. Today's range $40.4-42.7
  
  
• WTI is currently trading at $42.2/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.

Oil (Brent) -

• Brent is major benefactor of Saudi Arabia's announcement today. Today's range - $43.5 - $45.8
  
  
• Brent-WTI spread dropped to $3.2/barrel from $3.8/barrel last night.
  
  
• Brent is trading at $45.4/barrel. Immediate support lies at $42, $38 area and resistance at $48, $50.5, 54 region.

Natural Gas -   

• Natural gas up sharply over profit booking around psychological support at $2/mmbtu. Today's range $2.19-2.04

• Buy Natural gas @2.4 and @2.2, targeting $3.15/mmbtu and stop loss at $1.9/mmbtu.
  
• Natural Gas is currently trading at $2.16/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.