Buy Nat Gas MAR 2021 @ 206.00 SL 200.00 TGT 212.50-216.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4342-4570.
Crude oil gained as OPEC sees the oil market’s outlook as positive in general and the uncertainty that dominated last year is easing
China's factory activity growth slipped to a nine-month low in February, which may curtail Chinese crude demand and pressure oil prices
U.S. crude output drops to 11.06 mln bpd in December - EIA
Speculators raise U.S. crude oil net longs-CFTC
SELL CRUDEOIL MAR 2021 @ 4460 SL 4540 TGT 4360-4310.MCX
NATURAL GAS
Natural gas trading range for the day is 200.4-214.4.
Natural gas edged up amid few changes in the forecasts for weather or demand from earlier in the week.
Forecasts for milder weather and lower heating demand in March prompted speculators last week to cut their net long positions – CFTC
Refinitiv said output in the Lower 48 U.S. states dropped to an average of 86.5 billion cubic feet per day (bcfd) in February
U.S. natural gas output in the lower 48 states held steady at 102.54 bcfd in December from a revise 102.51 bcfd in November
BUY NAT GAS MAR 2021 @ 206.00 SL 200.00 TGT 212.50-216.00.MCX
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