Energy pack is mixed while oil is up, gas is down. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is bouncing back on back of weak dollar. Today's range $59.2-60.9.
- Target for the downside is coming around $50-51/barrel if doji high is not taken out at $62.7. A break above could push prices as high as $70/barrel. $75/barrel remains next target.
- WTI is currently trading at $60.4/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.
Oil (Brent) -
- Brent is trading similar to WTI. Today's range $65- 63.4.
- Brent-WTI spread gained 10 cents today, currently trading at $4/barrel.
- Target is coming around $55/barrel, if doji high is not taken out. A break would push it towards $80/barrel.
- Brent is trading at $64.4/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.
Natural Gas -
- Natural gas traded above but failed to clear the resistance around $2.93-$2.95 area. Failed sharply towards $2.8/mmbtu.
- Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
- Natural Gas is currently trading at $2.84 /mmbtu. Immediate support lies at $2.45 area & resistance at $2.93, $3.04, $3.32.
WTI |
+0.67% |
Brent |
+0.94% |
Natural Gas |
+3.16% |