Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is sharply up today, ahead of FOMC on short covering. Today's range $43-46
  
• Bears are likely to push towards $38/barrel area, since support at $43-44 cleared.
  
  
• EIA report showed inventory rise of 3.376 million barrels.
  
  
• WTI is currently trading at $45.7/barrel. Immediate support lies at $43 area and resistance at $47.5 area.

Oil (Brent) -

• Brent is up in line with WTI today, relatively worse performer. Today's range - $46.6-49.3
  
  
• Brent-WTI spread is trading dropped from $3.7/barrel to $3.3/barrel.
  
  
• Brent is trading at $49/barrel. Immediate support lies at $45, $46.5 area and resistance at $50.5, 54 region.

Natural Gas -   

• Natural gas was up as much as 15% today, however giving up gains heading towards FOMC. Today's range $2.1-2.38.
  
• Natural Gas is currently trading at $2.27/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.