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 - EconoTimes)
Energy pack is mixed while oil is down, gas is up. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI dropped sharply in early morning. Today's range $60 -58.7.
- Target for the downside is coming around $50-51/barrel if doji high is not taken out at $62.7. A break above could push prices as high as $70/barrel. $75/barrel remains next target.
- WTI is currently trading at $59.7/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.
Oil (Brent) -
- Brent is having similar bad day. Today's range $64.7- 63.3
- Brent-WTI spread rose by 10 cents, currently trading at $4.4/barrel.
- Target is coming around $55/barrel, is doji high is not taken out. A break would push it towards $80/barrel.
- Brent is trading at $64.1/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.
Natural Gas -
- Natural gas rose sharply, looking to break $2.93 resistance. Focus is on US FED and EIA inventory this week.
- Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
- Natural Gas is currently trading at $2.87/mmbtu. Immediate support lies at $2.45 area & resistance at $2.93, $3.04, $3.32.
|
WTI |
-0.50% |
|
Brent |
+0.47% |
|
Natural Gas |
+4.25% |
