Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is the worst performer today.
  
• WTI facing selling pressure around $54 area. Today's range $53.9-51.9
  
• Target for the downside is reached around $50-51/barrel, a further fall towards $42 seems likely.
  
  
• WTI is currently trading at $52.6/barrel. Immediate support lies at $51.2-50 and resistance at $54

Oil (Brent) -

• Brent likely to maintain downside as support near $61 got cleared last week. However eluded Iran deal is providing support to Brent.

• Brent has bounced back from support area of $55, though further drop is likely.

• Brent-WTI spread gained 10 cents today, currently trading at $6/barrel. Spread rose as expected as Iran deal still remained elusive.

• Target is reached around $55/barrel, and next target is around $51/barrel.
  
  
• Brent is trading at $58.6/barrel. Immediate support lies at $55 area and resistance at $59 region.

Natural Gas -

• Natural gas bulls pushed higher after price broke to downside.
  
  
• Price target for Natural gas to downside is $2.55, $2.45 and $2.35 with stop around $2.85
  
  
• Natural Gas is currently trading at $2.79/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.85, $2.93, $3.04, $3.32.