Commodities snapshot (energy)

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

Oil (WTI) -

• WTI as expected found support near $45/barrel area. Today's range $45.3-46.3
  
• WTI 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 $46.2/barrel. Immediate support lies at $42 and resistance at $54

Oil (Brent) -

• Brent bounced back above $50/barrel today, however rally might be short lived
• Brent-WTI spread dropped by 40 cents since last trading day, currently trading at $4/barrel.

• Target for Brent is reached at $51-50 area. Likely to fall further.
  
  
• Brent is trading at $50.2/barrel. Immediate support lies at $50 area and resistance at $57 region.

Natural Gas -

• Natural gas trying to pose a comeback from $2.7/mmbtu support area. Today's range $2.82-2.75.
  
  
• Price might reach as low as $2.35 if it clears $2.7 mark, whereas bulls might try to test $2.95 area.
  
  
• Natural Gas is currently trading at $2.8/mmbtu. Immediate support lies at $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.