FxWirePro: Short term trends, key supports/resistances and trend changing levels of energy commodities

In this article, we would discuss short-term trends, key support resistances, and the key trend (short-term) changing levels of the energy commodities based on one of our models. We expect these sets of information to come in handy to our readers,

• WTI crude:

WTI is in a short term bear trend since it cleared the support around $50.7 per barrel. The trend changing level is around $50 per barrel, which the US crude needs to break to nullify this short term bear trend. The crucial support is around $43.2 per barrel area, while the crucial resistance is around $51.5 area. The WTI is currently trading at $49.4 per barrel.

• Brent Crude:

Just like WTI, Brent is also in a short-term bear trend since it cleared the support around $54.7 per barrel. The trend changing level is around $53 per barrel, which the Brent crude needs to break to nullify this short term bear trend. The crucial support is around $48.8 per barrel area, while the crucial support is around $44.4 area. The crucial resistance is around $57 per barrel area. The WTI is currently trading at $52.2 per barrel.

• Natural gas:

Natural gas is currently in a bull trend, which began as the price cleared $3 per MMBtu area. The trend changing level is around $2.9 area. The key resistance is around $3.3 area and the support is around $3 per MMBtu. Natural gas is currently trading at $3.18 per MMBtu area.