Commodities snapshot (energy)

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

Oil (WTI) –

• WTI gave up initial gains as position selling continues. Today’s range $39-40.16
   
• WTI is currently trading at $39.2/barrel. Immediate support lies at $32.8, 36.5 area and resistance at $43.5, 49 area.

Oil (Brent) –

• Brent is down but marginally better performer than WTI. Brent is likely to be stronger than WTI over next one month. Today’s range - $39.8-41.2

• Brent is at $ 0.8/barrel premium to WTI.
   
• Brent is trading at $40/barrel. Immediate support lies at $38.5, $35.4 area and resistance at $47, $52 region.

Natural Gas –   

• Natural gas is up from initial loss and now best performer among energy. Today’s range $1.76 -1.83

• Active call – sell natural gas targeting $1.32 and $1.2 area with stop around $2.3
             
• Natural Gas is currently trading at $1.81/mmbtu. Immediate support lies at $1.75 area & resistance at $2 and $2.3