Commodities snapshot (energy)

Energy pack is trading in green today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI is facing tough resistance around $61 level. Today's range $61.1-59.6.
  
• 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.
  
  
• API report showed, crude stock rose by 1.8 million barrels. EIA will release stat at 14:30 GMT.
  
  
• 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 is up today, but heavy selling pressure as OPEC holds summit in Vienna. Oil ministers will hold meeting on Friday.
  
  
• Brent-WTI lost 70 cents today, currently trading at $4/barrel.
  
  
• Target is coming around $55/barrel, if the doji high is not taken out.
  
  
• Last week bullish Doji appeared which is providing support to price.
  
  
• Brent is trading at $64.8/barrel.
  Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.

Natural Gas -

• Natural gas jumped sharply from target area, faced sellers around $2.72/mmbtu.
  
  
• 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 $2.64/mmbtu. Immediate support lies at $2.45 area & resistance at $2.8, $3.04.