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.
|
WTI |
-2.88% |
|
Brent |
+1.65% |
|
Natural Gas |
+0.18% |


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