Commodities snapshot (energy)

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

Oil (WTI) –

• WTI is up on weaker Dollar, despite high increase in inventory. Today’s range $37.5-38.7

• Sell WTI at current price $39/barrel, with stop loss around $42/barrel and targets at $34 and $32/barrel.
   
• WTI is currently trading at $38.6/barrel. Immediate support lies at $32.8, 36.5 area and resistance at $43.5, 49 area.

Oil (Brent) –

• Brent is up in line with WTI but much better performer. Today’s range - $39.1-40.5

• Brent is at $ 1.9/barrel premium to WTI.
   
• Brent is trading at $40.5/barrel. Immediate support lies at $38.5, $35.4 area and resistance at $47, $52 region.

Natural Gas –   

• Natural gas broken above $2 resistance area. Today’s range $1.98 -2.03

• Active call – sell natural gas targeting $1.32 and $1.2 area with stop around $2.3
             
• Natural Gas is currently trading at $2.01  /mmbtu. Immediate support lies at $1.75 area & resistance at $2 and $2.3