Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is up today but still struggling to clear $42 area to gain further. Today's range $40.8-41.6
  
  
• EIA reported inventory rise by 0.3 million barrels.
  
  
• WTI is currently trading at $40.7/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.

Oil (Brent) -

• Brent is better performer than WTI. Today's range - $43.7 - $44.8
  
  
• Brent-WTI spread rose to $3.1/barrel from $2.8/barrel on Friday.
  
  
• Brent is trading at $43.8/barrel. Immediate support lies at $42, $38 area and resistance at $48, $50.5, 54 region.

Natural Gas -   

• Natural gas is down today, however bulls seem to be gathering force. Today's range $2.33-2.40

• Buy Natural gas @2.4, targeting $3.15/mmbtu and stop loss at $2.1/mmbtu.
  
• Natural Gas is currently trading at $2.34/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.