Commodities snapshot (energy)

Energy pack recovered sharply today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI bounced back sharply after finding support around $46.5/barrel. Today's range $48.5-46.6.
  
  
• WTI jump back from $46 area was expected, however is likely to fall towards $42 area. The drop might extend below $40 area. $45 will serve as interim support.
  
  
• WTI is currently trading at $48/barrel. Immediate support lies at $42 and resistance at $54

Oil (Brent) -

• Brent is worse performer than WTI again today.
• Brent-WTI spread dropped by 50 cents since yesterday, currently trading at $5.6/barrel.

• Next target is around $51/barrel as support around $55/barrel got cleared.
  
  
• Brent is trading at $53.6/barrel. Immediate support lies at $50 area and resistance at $57 region.

Natural Gas -

• Natural gas bulls pushed prices higher today, after finding support at $2.73 area. Today's range $2.85-2.77.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, whereas bulls seem to be in way to test $2.95 area once more.
   
• Natural Gas is currently trading at $2.84/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.