Energy pack is down mixed today as oil is down and as is up. Weekly performance at a glance in chart & table.
Oil (WTI) -
- Another week of range, WTI is continuing its range for 9th week now. Today's range $59.8-58.7
- 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 $59.6/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.
Oil (Brent) -
- Brent continues another week of range trade. Today's range $64- 62.7.
- Brent-WTI spread gained 30 cents today, currently trading at $3.6/barrel.
- Target is coming around $55/barrel, if doji high is not taken out. A break would push it towards $80/barrel.
- Brent is trading at $63.1/barrel. Immediate support lies at 61.8-61.4 area and resistance at $ 70 region.
Natural Gas -
- Natural gas tested but failed to push above $2.85/mmbtu area, which is crucial to to keep bullish momentum going.
- Natural Gas is currently trading at $2.81/mmbtu. Immediate support lies at $2.45 area & resistance at $2.93, $3.04, $3.32.
|
WTI |
+0.00% |
|
Brent |
+0.54% |
|
Natural Gas |
+0.18% |


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