Commodities snapshot (energy)

Energy pack is continuing range today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI has taken support but still subdued compared to Brent. Today's range $59.1-57.9
  
• 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 $58.9/barrel. Immediate support lies at $56-54.6, $51.2-50 and resistance at $63-$65.

Oil (Brent) -

• Brent has successfully bounced back from support area around $61.5. Today's range $61.7-63.3

• Brent-WTI spread gained 70 cents today, currently trading at $4.2/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 bulls are struggling to keep the bullish momentum going as $2.85 are proving to be tough nut to crack.
  
  
• Natural Gas is currently trading at $2.75/mmbtu. Immediate support lies at $2.7, $2.45 area & resistance at $2.85, $2.93, $3.04, $3.32.