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 - EconoTimes)
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.
|
WTI |
-3.56% |
|
Brent |
+1.03% |
|
Natural Gas |
+0.90% |
