Buy Crude Oil December 2022 @ 6100 SL 6000 TGT 6250-6350.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5853-6323.
Crude oil dropped as sentiment remained clouded by worries about weak global demand.
Investors wary over recession warnings, rate hikes outlook
Supply fears arising from Russian price cap ease
China's relaxation of COVID curbs to support demand
BUY CRUDEOIL DEC 2022 @ 6100 SL 6000 TGT 6250-6350.MCX
NATURAL GAS
Natural gas trading range for the day is 440.1-495.1.
Natural gas rose on forecasts of colder weather and higher heating demand over the next two weeks than previously expected.
That colder weather should force utilities to pull more gas from storage.
Gas stockpiles were about 2.4% below the five-year (2017-2021) average for this time of year.
Average gas output in the U.S. Lower 48 states rose to 99.6 bcfd so far in December, up from a monthly record of 99.5 bcfd in November
BUY NAT GAS DEC 2022 @ 470.00 SL 455.00 TGT 490.00-510.00.MCX
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