Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is marginally down today. Today’s range $50.5-49.7
• Buy WTI targeting $53.5 area. Target extended to $68
• WTI is currently trading at $50.2/barrel. Immediate support lies at $44 area and resistance at $54.2 area.

Oil (Brent) –

• Brent is down in line with WTI today. Today’s range - $51.2-52.1
• Brent is trading at $1.4 per barrel premium to WTI.
• Brent is trading at $51.4/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

• Natural gas is up today and the best performer this week. We expect natural gas to go to $4.3 area. New targets of $3.7 and $5.5 have been introduced. Today’s range $3.24-3.32        
• Natural Gas is currently trading at $3.27/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at  $3.1, $3.3 and $3.9