Commodities snapshot (energy)

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

Oil (WTI) -

• WTI bulls were halted at key resistance of $50 around yesterday, and fell further today. Today's range $48.6-47.3
  
• 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 $47.7/barrel. Immediate support lies at $42 and resistance at $54

Oil (Brent) -

• Brent is much better performer than WTI since yesterday.
• Brent-WTI spread rose by 40 cents since yesterday, currently trading at $5/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 $52.7/barrel. Immediate support lies at $50 area and resistance at $57 region.

Natural Gas -

• Natural gas bulls were halted at $2.95 area this week and fell sharply towards $2.7 support post FOMC. Today's range $2.8-2.74.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, since bulls failed to break $2.95 area once more.
  
  
• Natural Gas is currently trading at $2.74/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.