Energy pack is trading in red today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI further dropped as rigs count increased in US for first time since December. Today's range $56.8-56.2
- Target for the downside is coming
around $50-51/barrel. WTI is on its way to weakest close in 9 weeks. - WTI is currently trading at $56.3/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.
Oil (Brent) -
- Brent is holding on to support as WTI dropped. However is likely to break. Today's range $61.3-62
- Brent-WTI spread lost 20 cents today, currently trading at $5/barrel. Spread might rise faster if Iran deal remains eluded beyond 9th July.
- Target is coming around $55/barrel, since doji high is not taken out for that Brent needs to break below $61.
- Brent is trading at $61.3/barrel. Immediate support lies at 61.8-61.3 area and resistance at $ 65 region.
Natural Gas -
- Natural failed to clear resistance at $2.85 resistance. Price might drop since resistance was maintained.
- EIA report showed inventory rose by only 69 billion cubic feet.
- Natural Gas is currently trading at $2.79/mmbtu. Immediate support lies at $2.7, $2.45 area & resistance at $2.85, $2.93, $3.04, $3.32.
WTI |
-5.20% |
Brent |
-2.63% |
Natural Gas |
+0.83% |