http://www.fxwirepro.com/data/charts/2015042790fd9a0epercentage%20enery.jpg.jpgEnergy segment is trading in red today. Weekly performance at a glance in chart & table.
Oil (WTI) -
WTI is struggling to make further gains $60 looks to be initial target, partial profit booking is recommended and next target is coming around $63-$65 area.
Dovish FOMC and weaker dollar might provide further ammunition. EIA stock details would be important focus.
WTI is currently trading at $57.3/barrel. Immediate support lies at $55-54.6, $51.2-50 and resistance at $58.9-59.7, $64-$65
Oil (Brent) -
Since last week, Brent has outperformed WTI, as larger crude imbalance remains an US phenomenon. Price has cleared resistance around 65 area. Further gains seems to be on card.
Brent-WTI moving up, currently trading at $7.8/barrel. Brent might be targeting $69.6-$70 level as initial target.
Brent is trading at $65.2/barrel. Immediate support lies at 61.8-61.4, $58-57 area and resistance at $ 70 region.
Natural Gas -
Natural gas is once again worst performer. Price has reached initial target around $2.44/mmbtu.
Next price target is coming close to $2.15/mmbtu. Traders should be prepared for higher volatility. Resistance around $2.84 remains crucial.
Natural Gas is currently trading at 2.47/mmbtu. Immediate support lies at $2.12 area & resistance at $2.71.
WTI
+-0.03%
Brent
-0.37%
Natural Gas
-2.41%
(Source:
http://fxwire.pro/Commodities-snapshot-energy-29754)
