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 - EconoTimes)
Energy pack is mixed, while oil is down, gas is trading green today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is down, reversing gains after FOMC minutes. Today's range $39.9-41.1
- WTI is currently trading at $40.2/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.
Oil (Brent) -
- Brent is much better performer than WTI. Today's range - $43.7 - $44.8
- Brent-WTI spread rose to $3.9/barrel from $3.1/barrel last night.
- Brent is trading at $44.1/barrel. Immediate support lies at $42, $38 area and resistance at $48, $50.5, 54 region.
Natural Gas -
- Natural gas is up today, however bulls seem to be gathering force. Today's range $2.31-2.37
- EIA report showed, inventory rose by 15 billion cubic feet to record 4 trillion cubic feet.
- Buy Natural gas @2.4, targeting $3.15/mmbtu and stop loss at $2.1/mmbtu.
- Natural Gas is currently trading at $2.35/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.
|
WTI |
-1.30% |
|
Brent |
-0.74% |
|
Natural Gas |
-1.01% |
