Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is down today, likely to go down further. Today’s range $43.1-43.9
• WTI is currently trading at $43.2/barrel. Immediate support lies at $42 area and resistance at $50.2 area.

Oil (Brent) –

• Brent is much worse performer than WTI this week. Today’s range - $46-45.1
• Brent is trading at $2 per barrel premium to WTI.
• Brent is trading at $45.2/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas has broken above key resistance area around $2.95 area. We expect natural gas to go to $4.3 area. Today’s range $2.92-3.01                                                                 
• Natural Gas is currently trading at $3.01/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at 2.95 and $3.1