Commodities snapshot (energy)

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

Oil (WTI) –

• Oil price is higher on OPEC optimism and Saudi pledge. Today’s range $55.2 -54.5
• Active call – Buy targeting $56 per barrel
• WTI is currently trading at $55/barrel. Immediate support lies at $49 area and resistance at $53 area.

Oil (Brent) –

• Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $61-61.7
• Brent is trading at $6.5 per barrel premium to WTI.
• Brent is trading at $61.5/barrel. Immediate support lies at $54 area and resistance at $59 region.

Natural Gas –   

• Natural gas continuing its consolidation in a narrow range. Today’s range $2.89-2.93
• Natural Gas is currently trading at $2.92/MMBtu. Immediate support lies at $2.75 area & resistance at and $3.12

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest