Commodities snapshot (energy)

Energy pack is mixed while oil is up, gas is down. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is having volatile day today, traded as high. Bounced from $59 area to $61.4, however down towards $59.8 after EIA stock release. Today's range $60.4 -59.4.
  
• According to EIA, crude inventory declined by -2.7 million barrels this week.
  
• 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. $75/barrel remains next target.
  
  
• WTI is currently trading at $59.2/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.

Oil (Brent) -

• Brent is having similar bad day ahead of FED, hawkish FED might prompt further sell offs. Today's range $65.5- 63.1.

• Brent-WTI spread is flat today, currently trading at $3.9/barrel.

• Target is coming around $55/barrel, if doji high is not taken out. A break would push it towards $80/barrel.

• Brent is trading at $63.1/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.

Natural Gas -

• Natural gas broke above $2.93 resistance again today, suggesting further rise ahead.
  
  
• Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
  
  
• Natural Gas is currently trading at $2.88/mmbtu. Immediate support lies at $2.45 area & resistance at $2.93, $3.04, $3.32.