Energy segment has rebounded sharply since yesterday. Weekly performance at a glance in chart & table
Oil (WTI) -
- WTI is now trading close at $ 54 area, price looks to be breaking out, however stronger dollar today is hindering oil's progress. They might shoot up, should dollar weaken considerably.
- Bulls might once again move to test $54-54.5 area. Breakout of the area would push prices higher towards $60 as initial target area.
- WTI is currently trading at $54.1/barrel, up 2% today.
Immediate support lies at $51.2-50, $47.5-47 and resistance at $54-54.5, and $58.9-59.7.
Oil (Brent) -
- Brent has appreciated sharply since yesterday and verge of taking out the resistance. Further appreciation can't be ruled out.
- Brent-WTI spread moved jumped yesterday over late night trading, currently trading at $6.3/barrel. Bears lost control again, both lacking clear conviction.
- Brent is trading at $60.3/barrel. Downtrend intact. Immediate support lies at $58-57 area and resistance at $ 62.6-64 region.
Natural Gas -
- Natural gas bounce back gathered further pace today, now trading around $2.47/mmbtu this week. Up 1.60% today so far.
- Natural Gas is currently trading at 2.56/mmbtu. Immediate support lies at $2.12 area & resistance at $2.60, 2.71.
|
WTI |
+4.82% |
|
Brent |
+4.23% |
|
Natural Gas |
+2.15% |
