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 - EconoTimes)
Energy segment is trading in red today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI is struggling to make further gains $60 looks to be initial target, partial profit booking is recommended and next target is coming around $63-$65 area.
- Dovish FOMC and weaker dollar might provide further ammunition. EIA stock details would be important focus.
- WTI is currently trading at $57.3/barrel. Immediate support lies at $55-54.6, $51.2-50 and resistance at $58.9-59.7, $64-$65
Oil (Brent) -
- Since last week, Brent has outperformed WTI, as larger crude imbalance remains an US phenomenon. Price has cleared resistance around 65 area. Further gains seems to be on card.
- Brent-WTI moving up, currently trading at $7.8/barrel. Brent might be targeting $69.6-$70 level as initial target.
- Brent is trading at $65.2/barrel. Immediate support lies at 61.8-61.4, $58-57 area and resistance at $ 70 region.
Natural Gas -
- Natural gas is once again worst performer. Price has reached initial target around $2.44/mmbtu.
- Next price target is coming close to $2.15/mmbtu. Traders should be prepared for higher volatility. Resistance around $2.84 remains crucial.
- Natural Gas is currently trading at 2.47/mmbtu. Immediate support lies at $2.12 area & resistance at $2.71.
|
WTI |
+-0.03% |
|
Brent |
-0.37% |
|
Natural Gas |
-2.41% |
