Commodities snapshot (energy)

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

Oil (WTI) -

• WTI dropped further, however $45-46 area continues to provide support. Today's range $45.8-47
  
• WTI is likely to fall towards $42 area. The drop might extend below $40 area. $45 will serve as interim support.
  
  
• WTI is currently trading at $45.9/barrel. Immediate support lies at $42 and resistance at $54

Oil (Brent) -

• Brent traded as low as $50/barrel today.
  
  
• Brent-WTI spread dropped by 60 cents since last trading day, currently trading at $4.4/barrel.

• Target for Brent is reached at $51-50 area. Further lows can't be ruled out.
  
  
• Brent is trading at $50.3/barrel. Immediate support lies at $50 area and resistance at $57 region.

Natural Gas -

• Natural gas bulls clearly lost strength, however still holding onto support at $2.7/mmbtu area. Today's range $2.8-2.74.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, since bulls failed to break $2.95 area.
  
  
• Natural Gas is currently trading at $2.7/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.