Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is the worst performer today.
  
• WTI facing resistance around $54 area. Today's range $53.2-51.2
  
  
• Target for the downside is reached around $50-51/barrel, a further fall towards $42 seems likely.
  
  
• WTI is currently trading at $52.9/barrel. Immediate support lies at $51.2-50 and resistance at $54

Oil (Brent) -

• Eluded Iran deal so far is keeping things at bay for Brent.

• OPEC monthly oil report showed, Saudi Arabia's output at record 10.6 million barrels/day.

• Brent-WTI spread dropped 20 cents today, currently trading at $5.8/barrel.

• 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 $59/60 region.

Natural Gas -

• Natural gas bulls pushed higher after price sharply jumped back from breaking to downside.
• Bulls and Bears are in strong collision to gain control. Upside target is coming around $3.1 with stop around $2.65, while down side is round $2.35 with stop around $2.98.
  
  
• Bullish Doji, in weekly chart remains in focus.
  
  
• Natural Gas is currently trading at $2.86/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.93, $3.04, $3.32.