Commodities snapshot (energy)

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.