Commodities snapshot (energy)

Energy pack is up in today’s trading. Weekly performance at a glance in chart & table.

Oil (WTI) –

• WTI likely to move higher but unlikely to cross $42-45 area in this run. Today’s range $37.1-36.6
   
• WTI is currently trading at $36.4/barrel. Immediate support lies at $32, 34 area and resistance at $38, $44 area.

Oil (Brent) –

• Brent is up line with WTI. Brent is likely to be stronger that WTI. Today’s range - $39.6-38.8
   
• Brent is at $2.4 /barrel premium to WTI.
   
• Brent is trading at $38.9/barrel. Immediate support lies at $35, $37 area and resistance at $45, $49 region.

Natural Gas –    

• Natural gas is best performer this week but flat today. Today’s range $1.87 -1.83

• Active call – sell natural gas targeting $1.32 and $1.2 area with stop around $2.3
              
• Natural Gas is currently trading at $1.84/mmbtu. Immediate support lies at $1.65 area & resistance at $2 and $2.3