Energy pack is trading in green today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI has broken above $61, failed to hold on to gains. Today's range $61.2-60.1
- WTI still remains vulnerable but might challenge the dojis.
- Target for the downside is coming around $50-51/barrel if doji high is not taken out at $62.7. A break above could push prices as high as $70/barrel.
- WTI is currently trading at $60.8/barrel. Immediate support lies at $55-54.6, $51.2-50 and resistance at $63-$65.
Oil (Brent) -
- Brent has moved higher along with WTI, clearly falling short.
- Brent-WTI lost 40 cents today, currently trading at $4.7/barrel.
- Target is coming around $55/barrel, if the doji high is not taken out.
- However another doji has appeared in weekly chart, which is a bullish one.
- Brent is trading at $65.5/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.
Natural Gas -
- Natural gas dipped further down after bounce back from initial target of $2.62 area. Today's range $2.66-2.6
- Next target is around $2.5/mmbtu. Selling at rallies are recommended.
- Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
- Natural Gas is currently trading at $2.61/mmbtu. Immediate support lies at $2.45 area & resistance at $2.8, $3.04, $3.32.
|
WTI |
+0.91% |
|
Brent |
+0.09% |
|
Natural Gas |
-1.48% |
