Commodities snapshot (energy)

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

Oil (WTI) -

• WTI is sharply down as OPEC scrapped its ceiling in Friday's meeting. Today's range $40-$38.7
  
  
• WTI is currently trading at $38.8/barrel. Immediate support lies at 38 area and resistance at $45, $47.5 area.

Oil (Brent) -

• Brent is relatively better performer today. Today's range - $43.2 -42
  
  
• Brent-WTI spread rose by $0.3/barrel to $3.3/barrel, since Friday night.
  
  
• Brent is trading at $42.1/barrel. Immediate support lies at $42, $38 area and resistance at $48, $50.5, 54 region.

Natural Gas -   

• Natural gas is sharply down today, over souring sentiment. Today's range $2.19-2.10

• Buy Natural gas @2.4 and @2.2, targeting $3.15/mmbtu and stop loss at $1.9/mmbtu.
  
• Natural Gas is currently trading at $2.13/mmbtu. Immediate support lies at $2, $1.85 area & resistance at $2.4.