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 - EconoTimes)
Energy pack is down heavily today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is dropping sharply after initial gains over Chinese devaluation of Yuan fix by as much as -1.9%.Today's range $45.4 -43
- WTI is closing in on target of $42 area, however the drop might extend below $40 area.
- WTI is currently trading at $43.1/barrel. Immediate support lies at $42 and resistance at $47-49 area.
Oil (Brent) -
- Brent is down but much better performer than WTI today. Today's range - $48.7-51.1.
- Brent-WTI spread rose by 70 cents since last trading day, currently trading at $5.9/barrel.
- Brent is trading at $48.8/barrel. Immediate support lies at $45 area and resistance at $53 region.
Natural Gas -
- Natural gas is down amid global commodity rout. Today's range $2.84-2.79.
- Bears have failed to push below $2.7 area. Price might reach as low as $2.35 if it clears $2.7 mark, whereas bulls might try to test $2.95 area.
- Natural Gas is currently trading at $2.80/mmbtu. Immediate support lies at $2.7, $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.
|
WTI |
+1.74% |
|
Brent |
+0.62% |
|
Natural Gas |
+0.54% |
