Commodities snapshot (energy)

Energy pack is green 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. Our first target reached. Today’s range $41.2-39.9
   
• WTI is currently trading at $41/barrel. Immediate support lies at $34, 36 area and resistance at $44 area.

Oil (Brent) –

• Brent is up more than WTI. Brent is likely to be stronger than WTI over next one month. Today’s range - $42.5-41.1
   
• Brent is at $1.4 /barrel premium to WTI.
   
• Brent is trading at $42.4/barrel. Immediate support lies at $35, $37 area and resistance at $45, $49 region.

Natural Gas –    

• Natural gas is flat today. $2 area likely to halt rallies Today’s range $1.91 -1.96

• Active call – sell natural gas targeting $1.32 and $1.2 area with stop around $2.3
              
• Natural Gas is currently trading at $1.93/mmbtu. Immediate support lies at $1.75 area & resistance at $2 and $2.3