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Buy Crudeoil Nov 2021 @ 6260 SL 6200 TGT 6340-6390.MCX- Kedia Advisory
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Crude Oil
Crude oil trading range for the day is 6145-6371.
Crude oil dropped ahead of weekly U.S. supply reports expected to show a rise in crude inventories and of Thursday’s OPEC+ meeting.
OPEC output rises 190,000 bpd from September
Compliance with OPEC+ cut pledges rises to 118%
Nigeria posts OPEC's biggest output drop
BUY CRUDEOIL NOV 2021 @ 6260 SL 6200 TGT 6340-6390.MCX
Natural Gas
Natural gas trading range for the day is 382.2-427.6.
Natural gas edged up as short sellers took some profits and as higher global prices keep demand for U.S. LNG exports strong.
That price increase came despite rising output and forecasts for milder weather and lower heating demand next week than previously expected.
U.S. stockpiles were currently about 3% below the five-year average for this time of year.
Speculators have cut their net long positions over the past four weeks to their lowest since June 2020
SELL NAT GAS NOV 2021 @ 440.00 SL 454.00 TGT 424.00-416.00.MCX
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