Buy Natural gas Dec 2022 @ 540.00 SL 520.00 TGT 565.00-580.00.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 6388-6920.
Crude oil jumped on prospects of a recovery in demand and further supply cuts from OPEC+.
U.S. oil output climbs to highest since March 2020 – EIA
OPEC oil output drops in November after cut pledged
Investors also cautiously awaited an OPEC+ meeting on Dec. 4 amid recent speculation of more production cuts
SELL CRUDEOIL DEC 2022 @ 6750 SL 6850 TGT 6600-6520.MCX
NATURAL GAS
Natural gas trading range for the day is 527.3-600.1.
Natural gas dropped amid forecasts for less cold weather and lower U.S. gas demand over the next two weeks than previously expected.
Meanwhile investors remained concerned about possible coal supply disruptions
Average gas output in the U.S. Lower 48 states has risen to 99.6 bcfd so far in November, up from a monthly record 99.4 bcfd in October.
Workers at the largest US rail union voted against a tentative contract deal reached in September, raising the possibility of a year-end strike
BUY NAT GAS DEC 2022 @ 540.00 SL 520.00 TGT 565.00-580.00.MCX
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