Commodities snapshot (energy)

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

Oil (WTI) -

• WTI dropped after initial reversal. Today's range $42 -43.7
  
• WTI reached target of $42 area, however the drop might extend below $40 area.
  
  
• WTI is currently trading at $42.2/barrel. Immediate support lies at $42 and resistance at $47-49 area.

Oil (Brent) -

• Brent is down but much better performer than WTI today. Today's range - $48.8-50.4.
  
  
• Brent-WTI spread rose by 90 cents since last trading day, currently trading at $6.8/barrel.
  
  
• Brent is trading at $49/barrel. Immediate support lies at $45 area and resistance at $53 region.

Natural Gas -

• Natural gas once again failed at $2.95 resistance area. Today's range $2.94-2.80.
  
  
• Bears are likely to test $2.7 area. Price might reach as low as $2.35 if it clears $2.7 mark, since bulls failed $2.95 area.
  
  
• Natural Gas is currently trading at $2.81/mmbtu. Immediate support lies at $2.7, $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.