Buy Crudeoil Dec 2022 @ 6200 SL 6100 TGT 6380-6520.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5926-6592.
Crude oil gained on rumors of an OPEC+ production cut offset concerns about weak demand.
Eurasia Group said major oil producers were considering a new production cut when they meet on December 4th
Global oil market signals short-term weakness ahead of EU ban on Russian oil
Investors focus on next OPEC+ meeting on Dec 4
BUY CRUDEOIL DEC 2022 @ 6200 SL 6100 TGT 6380-6520.MCX
NATURAL GAS
Natural gas trading range for the day is 554-617.
Natural gas prices dropped forecasts for less cold weather over the next two weeks.
However, downside seen limited amid concerns of potential coal supply disruptions.
EIA data showed US utilities pulled 80 billion cubic feet of gas from storage
Freeport has signaled that operations should restart in December, but has not yet submitted activity requests to the US government.
BUY NAT GAS DEC 2022 @ 570.00 SL 550.00 TGT 610.00-630.00.MCX
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