Commodities snapshot (energy)

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

Oil (WTI) -

• WTI dropped further today as $45 support was taken out yesterday. Today's range $45.3-44.2
  
• WTI is likely to fall towards $42 area. The drop might extend below $40 area.
  
  
• WTI is currently trading at $44.4/barrel. Immediate support lies at $42 and resistance at $54

Oil (Brent) -

• Brent is a better performer than WTI. Today's range - $48.9-49.9.
• Brent-WTI spread rose by 70 cents since last trading day, currently trading at $4.9/barrel.

• $50 area is posing as resistance.
  
  
• Brent is trading at $49.3/barrel. Immediate support lies at $45 area and resistance at $53 region.

Natural Gas -

• Natural trading in positive after finding support around $2.7 area once more. Today's range $2.84-2.72.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, whereas bulls might try to test $2.95 area.
  
  
• Focus is on FOMC on tomorrow.
• Inventory rose by 32 billion cubic feet this week.
  
  
• Natural Gas is currently trading at $2.82/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.