Energy pack is up in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
- WTI is continuing its recovery as inventories have declined more than expected according to EIA report. We expect the WTI to reach $43 per barrel. Target extended to $38 per barrel. Today’s range $47.6-48.1
- WTI is currently trading at $47.9/barrel. Immediate support lies at $42 area and resistance at $49 area.
Oil (Brent) –
- Brent is up in line with the WTI this week. Brent is likely to drop below $40 per barrel. Today’s range - $50.5-51.1
- Brent is trading at $3.1 per barrel premium to WTI. Likely to widen further in the medium term.
- Brent is trading at $51/barrel. Immediate support lies at $52 area and resistance at $59 region.
Natural Gas –
- Natural has looks very much likely to have resumed its broad bull trend. The focus is on inventory report. Today’s range $3.34-3.39
- Resuming long-term bull trend would push gas price to $4.3 per MMBtu.
- Natural Gas is currently trading at $3.38/MMBtu. Immediate support lies at $2.95 area & resistance at and $3.3
WTI
|
+3.17%
|
Brent
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+3.32%
|
Natural Gas
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+3.58%
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