Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down over risk aversion today and likely to move higher but unlikely to cross $42-45 area in this run. Our first target reached. Today’s range $41.8-40.7
   
• WTI is currently trading at $40.8/barrel. Immediate support lies at $32.8, 36.5 area and resistance at $43.5, 49 area.

Oil (Brent) –

• Brent is relatively better performer than WTI. Brent is likely to be stronger than WTI over next one month. Today’s range - $41.8-40.9

• Brent is at $ 0.3/barrel premium to WTI.
   
• Brent is trading at $41.1/barrel. Immediate support lies at $38.5, $35.4 area and resistance at $47, $52 region.

Natural Gas –   

• Natural gas is best performer today. Today’s range $1.79 -1.87

• Active call – sell natural gas targeting $1.32 and $1.2 area with stop around $2.3
             
• Natural Gas is currently trading at $1.86/mmbtu. Immediate support lies at $1.75 area & resistance at $2 and $2.3