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Energy pack is in retreat today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- WTI bulls were halted at key resistance of $50 around. Today's range $49.4-48.5
- 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 $49.9/barrel. Immediate support lies at $42 and resistance at $54
Oil (Brent) -
- Brent is worse performer than WTI today.
- Brent-WTI spread dropped by 10 cents since yesterday, currently trading at $4.6/barrel.
- Next target for Brent is around $51/barrel as support around $55/barrel got cleared. Jump back likely to remain curbed below $56/barrel.
- Brent is trading at $53.5/barrel. Immediate support lies at $50 area and resistance at $57 region.
Natural Gas -
- Natural gas bulls were halted at $2.90 area and fell sharply towards $2.8. Today's range $2.9-2.77.
- Price might reach as low as $2.35 if it clears $2.7 mark, as bulls failed to break $2.95 area once more.
- EIA report showed inventory rose by 52 billion cubic feet.
- Natural Gas is currently trading at $2.78/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.
|
WTI |
+1.71% |
|
Brent |
-1.85% |
|
Natural Gas |
-0.68% |
