Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is moving lower as doubts continue to emerge on OPEC deal and Donald Trump promises to unleash American energy. Today’s range $44.6-43.6
• Buy WTI targeting $53.5 area. Target extended to $68
• WTI is currently trading at $43.8/barrel. Immediate support lies at $42 area and resistance at $48 area.

Oil (Brent) –

• Brent is down in line with WTI. Today’s range - $45.9-46.7
• Brent is trading at $1.2 per barrel premium to WTI. Expect it to widen.
• Brent is trading at $45/barrel. Immediate support lies at $44 area and resistance at $49 region.

Natural Gas –   

• Natural gas is continuing its decline as Winter comes late. We continue to expect natural gas to go to $4.3 area. New targets of $3.7 and $5.5 have been introduced. Today’s range $2.66-2.55
• Natural Gas is currently trading at $2.56/mmbtu. Immediate support lies at $2.4, $2.5 area & resistance at  $2.9 and $3.1