Commodities snapshot (energy)

Energy pack is having a bad day. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI dropped lower high today, again moved away once more from the doji high. Today's range $60.6 -59.7.
  
• 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. $75/barrel remains next target.
  
  
• WTI is currently trading at $60/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.

Oil (Brent) -

• Brent is struggling in a small range today. Today's range $65- 64.1

• Brent-WTI spread remained flat, currently trading at $4.3/barrel.

• Target is coming around $55/barrel, is doji high is not taken out. A break would push it towards $80/barrel.

• Brent is trading at $64.3/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.

Natural Gas -

• Natural gas is under pressure as it couldn't break $2.93 resistance. EIA showed inventory rose by 111 billion cubic feet.
            
• Price target for bulls are coming close to $3.5/mmbtu, should support at $2.45 holds.
  
  
• Natural Gas is currently trading at $2.8/mmbtu. Immediate support lies at $2.45 area & resistance at $2.93, $3.04, $3.32.