Commodities snapshot (energy)

Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table.

Oil (WTI) –

• WTI likely to move higher but unlikely to cross $42-45 area in this run. Today it is riding on weaker Dollar. Today’s range $38.4-39.9
   
• WTI is currently trading at $39.7/barrel. Immediate support lies at $34, 36 area and resistance at $38, $44 area.

Oil (Brent) –

• Brent is up more than WTI. Brent is likely to be stronger than WTI over next one month. Today’s range - $40.2-41.6
   
• Brent is at $1.5 /barrel premium to WTI.
   
• Brent is trading at $41.1/barrel. Immediate support lies at $35, $37 area and resistance at $45, $49 region.

Natural Gas –    

• Natural gas is down today. Today’s range $1.82 -1.91

• Active call – sell natural gas targeting $1.32 and $1.2 area with stop around $2.3
              
• Natural Gas is currently trading at $1.84/mmbtu. Immediate support lies at $1.65 area & resistance at $2 and $2.3