Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is the best performer today, might be in the process of forming important bottom. Today's range $41.4-42.5
  
• WTI reached all of our anticipated target area. Reversal from here is possible.
  
  
• WTI is currently trading at $42.2/barrel. Immediate support lies at $42-40 area and resistance at $47-49 area.

Oil (Brent) -

• Brent is worse performer than WTI today. Today's range - $48.2-48.8.
  
  
• Brent-WTI spread dropped to $6.4/barrel, further contraction likely.
  
  
• Brent is trading at $48.6/barrel. Immediate support lies at $45 area and resistance at $53 region.

Natural Gas -

• Natural testing support area of $2.7, focus on inventory report Thursday. Today's range $2.67-2.74.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, since bulls failed at $2.95 area.
  
  
• Natural Gas is currently trading at $2.71/mmbtu. Immediate support lies at $2.7, $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.