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18.10.201612:47:00UTC+00Commodities Snapshot (energy)

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

Oil (WTI) –

  • WTI is marginally down today. Today’s range $50.5-49.7
  • Buy WTI targeting $53.5 area. Target extended to $68
  • WTI is currently trading at $50.2/barrel. Immediate support lies at $44 area and resistance at $54.2 area.

Oil (Brent) –

  • Brent is down in line with WTI today. Today’s range - $51.2-52.1
  • Brent is trading at $1.4 per barrel premium to WTI.
  • Brent is trading at $51.4/barrel. Immediate support lies at $45 area and resistance at $54 region.

Natural Gas –   

  • Natural gas is up today and the best performer this week. We expect natural gas to go to $4.3 area. New targets of $3.7 and $5.5 have been introduced. Today’s range $3.24-3.32        
  • Natural Gas is currently trading at $3.27/mmbtu. Immediate support lies at $2.4, $2.6 area & resistance at  $3.1, $3.3 and $3.9         

WTI

        -0.64%

Brent

-1.10%

Natural Gas

-0.30%


           

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