Commodities snapshot (energy)

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

Oil (WTI) -

• WTI trades in low volatility today, outlook remains bearish. WTI traded as low as $51.4/barrel falling to clear above 52 area as Iran deal continues to weigh.
  
• $54 area remains crucial resistance. Today's range $52.2-51.6
  
• WTI is likely to fall towards $42 area, once $50 support gets broken.
  
  
• WTI is currently trading at $51.6/barrel. Immediate support lies at $51.2-50 and resistance at $54

Oil (Brent) -

• Brent is treading water, facing headwinds from possibilities of sanctions removal.
• Brent-WTI spread gained 60 cents today, currently trading at $6/barrel.

• Target has reached around $55/barrel, and next target is around $51/barrel.
  
  
• Brent is trading at $57.6/barrel. Immediate support lies at $55 area and resistance at $59/60 region.

Natural Gas -

• Natural gas bulls remain in control but facing tough resistance around $2.95/mmbtu area.
  
  
• A break above $2.95 area would push prices to first target of $3.1/mmbtu.
  
  
• Bullish Doji, in weekly chart remains in focus.
  
  
• Natural Gas is currently trading at $2.91/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.