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 6145-6441.
Crude oil rose as expectations of strong demand and a belief that a key producer group will not turn on the spigots too fast.
China releases gasoline, diesel reserves to bolster domestic supply
U.S. drillers add oil and gas rigs for 15th month in a row
Money managers cut their net long U.S. crude futures and options positions, CFTC said
BUY CRUDEOIL NOV 2021 @ 6260 SL 6200 TGT 6340-6390.MCX
Natural gas
Natural gas trading range for the day is 370.9-422.3.
Natural gas eased on rising output, lower demand next week than previously projected
U.S. gas inventories will top 3.6 tcf by the start of the winter heating season in November, which would be a comfortable level
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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