Energy pack is mixed while oil is up, gas is down. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI continuing the range trade, ahead of FED policy tomorrow. Today's range $60.4 -59.4.
- 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 $59.9/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.
Oil (Brent) -
- Brent is having bad day today. Today's range $64.5- 63.4
- Brent-WTI spread lost 50 cents, currently trading at $3.9/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 $63.8/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.
Natural Gas -
- Natural gas tested $2.93 resistance again today, however failed to break it. Bulls should be cautious, if the level holds on before FOMC.
- Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
- Natural Gas is currently trading at $2.84/mmbtu. Immediate support lies at $2.45 area & resistance at $2.93, $3.04, $3.32.
WTI |
-0.17% |
Brent |
+0.00% |
Natural Gas |
+3.16% |