Buy Nat Gas May 2022 @ 540.00 SL 510.00 TGT 580.00-600.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 7578-8736.
Crude oil dropped amid fears that a global recession against the backdrop of the Ukraine War and China's economic woes could dampen oil demand.
China's crude oil imports grew nearly 7% in April from the same month a year earlier, its first rise in three months
Saudi Arabia has cut prices for buyers in Asia for the first time in four months as China's disruptive lockdowns weigh on demand.
China's export growth slowed to the weakest in almost two years and imports were barely changed in April, adding to concerns over the economic outlook.
SELL CRUDEOIL MAY 2022 @ 8100 SL 8300 TGT 7850-7700.MCX
NATURAL GAS
Natural gas trading range for the day is 507.2-671.2.
Natural gas dropped as output increases and the weather turns milder than previously forecast.
U.S. natgas output, demand to rise in 2022 – EIA
The U.S. EIA said utilities added 77 billion cubic feet (bcf) of gas to storage during the week ended April 29.
The US is set for temperatures in May that would even be considered hotter-than-normal during summer months
BUY NAT GAS MAY 2022 @ 540.00 SL 510.00 TGT 580.00-600.00.MCX
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