Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is treading water awaiting further cues. Today's range $59.2 -58.4.
  
• WTI struggling to break the dojis as it continues consolidation.
  
  
• Target for the downside is coming around $50-51/barrel if doji high is not taken out at $62.7. A break above could push prices as high as $70/barrel.
  
  
• WTI is currently trading at $58.8/barrel. Immediate support lies at $55-54.6, $51.2-50 and resistance at $63-$65.

Oil (Brent) -

• Brent dropped as OPEC maintained output level steady and Iran prepares to join in.

• Brent-WTI gained 20 cents, currently trading at $4.2/barrel.

• Target is coming around $55/barrel, since doji high is not taken out.

• Brent is trading at $63/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.

Natural Gas -

• Natural gas is up today, after reaching as low as $2.59/mmbtu.
                                                             
• Focus is on next inventory report.
  
  
• Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
  
  
• Natural Gas is currently trading at $2.65/mmbtu. Immediate support lies at $2.45 area & resistance at $2.8, $3.04, $3.32.