Commodities snapshot (energy)

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

Oil (WTI):

• WTI is the best performer today, after price jumped back sharply on Friday. Today's range $41.6-42.7
• WTI reached all of our anticipated target area. Reversal from here is possible.
• WTI is currently trading at $42.6/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 - $48.3-49.5.
• Brent-WTI spread dropped to $6.6/barrel, further contraction likely.
• Brent is trading at $49.2/barrel. Immediate support lies at $45 area and resistance at $53 region.

Natural Gas:

• Natural gas is the worst performer today and on its way to support area of $2.7, since once again bulls failed at $2.95 resistance area last week. Today's range $2.81-2.72.
• 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 $2.73/mmbtu. Immediate support lies at $2.7, $2.55, $2.45 area & resistance at $2.95, $3.04, $3.32.

WTI

+1.04%

Brent

+0.88%

Natural Gas

-2.78%