Commodities snapshot (energy)

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

Oil (WTI) -

• WTI dropped further below to trade as low as $37.7/barrel. Today's range $37.7-40.5
  
• Massive selloffs over China remains major concern.
  
  
• WTI is currently trading at $39/barrel. Immediate support lies at $42-40 area and resistance at $47-49 area.

Oil (Brent) -

• Brent is worse performer than WTI today but less volatile. Today's range - $45.4-42.5.
  
  
• Brent-WTI spread dropped to $4.5/barrel.
  
  
• Brent is trading at $43.5/barrel. Immediate support lies at $45 area and resistance at $53 region.

Natural Gas -

• Natural gas bears have cleared floor around $2.7/mmbtu and likely to drop further. Today's range $2.70-2.62.
  
  
• Price likely to drop to $2.35/mmbtu, since support cleared.
  
  
• Natural Gas is currently trading at $2.67/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.75, $2.95, $3.04, $3.32.