Commodities snapshot (energy)

Energy segment is trading in red today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is struggling to make further gains $60 looks to be initial target, partial profit booking is recommended and next target is coming around $63-$65 area.
  
  
• Dovish FOMC and weaker dollar might provide further ammunition. EIA stock details would be important focus.
  
  
• WTI is currently trading at $57.3/barrel. Immediate support lies at $55-54.6, $51.2-50 and resistance at $58.9-59.7, $64-$65

Oil (Brent) -

• Since last week, Brent has outperformed WTI, as larger crude imbalance remains an US phenomenon. Price has cleared resistance around 65 area. Further gains seems to be on card.

• Brent-WTI moving up, currently trading at $7.8/barrel. Brent might be targeting $69.6-$70 level as initial target.

• Brent is trading at $65.2/barrel. Immediate support lies at 61.8-61.4, $58-57 area and resistance at $ 70 region.

Natural Gas -

• Natural gas is once again worst performer. Price has reached initial target around $2.44/mmbtu.
  
  
• Next price target is coming close to $2.15/mmbtu. Traders should be prepared for higher volatility. Resistance around $2.84 remains crucial.
  
  
• Natural Gas is currently trading at 2.47/mmbtu. Immediate support lies at $2.12 area & resistance at $2.71.