Buy Crudeoil Feb 2021 @ 4100 SL 4020 TGT 4170-4220.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 4095-4203.
Crude oil gains on strong U.S. economic data, falling inventories and the OPEC+ decision to stick to its output cuts
Markets were encouraged by stronger-than-expected orders for U.S. goods in December, pointing to strength in manufacturing
OPEC+ sticks with oil policy as prices rise towards one-year high
U.S. crude stockpiles fall, gasoline inventories surge -EIA
BUY CRUDEOIL FEB 2021 @ 4100 SL 4020 TGT 4170-4220.MCX
NATURAL GAS
Natural gas trading range for the day is 205.8-228.2.
Natural gas dropped on forecasts for less cold weather and less heating demand next week than previously expected.
That price decline came even though all forecasts continue to call for extreme cold in two weeks
Stockpiles have remained above the five-year (2016-2020) average since the start of 2020
Output in the Lower 48 U.S. states averaged 90.4 billion cubic feet per day (bcfd) so far in February.
BUY NAT GAS FEB 2021 @ 212.00 SL 206.00 TGT 218.00-222.00.MCX
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