Commodities snapshot (energy)

Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,

Oil (WTI) –

• Oil price is down for a fourth consecutive day as it heads towards $42 area. Today’s range $44.7-43.6
• Active call – add short positions to the existing short call targeting $38 per barrel.
• WTI is currently trading at $43.8/barrel. Immediate support lies at $42 area and resistance at $46 area.

Oil (Brent) –

• Brent is down in line with WTI today. Today’s range - $47.2-46.1
• Brent is trading at $2.5 per barrel premium to WTI. Likely to widen further in the medium term.
• Brent is trading at $46.3/barrel. Immediate support lies at $44 area and resistance at $49 region.

Natural Gas –   

• Natural gas is the best performer of the day. Today’s range $2.87-2.95
• Active Call -Bear trend would push it towards $2.69 per MMBtu
• Natural Gas is currently trading at $2.94MMBtu. Immediate support lies at $2.84 area & resistance at and $3.1   

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