Commodities snapshot (energy)

Energy pack reversed loss today. Weekly performance at a glance in chart & table.

Oil (WTI) -

• WTI jumped back after sharp sell offs. Today's range $39.5 -43
  
• WTI reached all of our anticipated target area. A very bullish doji or hammer is forming in daily chart suggesting recovery ahead.
  
  
• WTI is currently trading at $42.5/barrel. Immediate support lies at $42-40 area and resistance at $47-49 area.

Oil (Brent) -

• Brent is trading in a small range today. Today's range - $49.1-49.9.
  
  
• Brent-WTI spread rose to as high as $9.7/barrel but currently trading at $6.8/barrel.
  
  
• Brent is trading at $49.3/barrel. Immediate support lies at $45 area and resistance at $53 region.

Natural Gas -

• Natural gas is on its way to support area of $2.7, since once again failed at $2.95 resistance area this week. Today's range $2.84-2.79.
  
  
• 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 $2.79/mmbtu. Immediate support lies at $2.7, $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.