Sell Crudeoil FEB 2022 @ 6300 SL 6380 TGT 6200-6140.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5985-6543.
Crude oil prices fell hit by a stronger dollar and investor concerns over the possibility of quicker than expected increases to interest rates by Fed.
UAE grounds most private drones for a month after Houthi attack
OPEC+ supply restraint compliance up to 122% in Dec, sources say
Speculators raise U.S. crude oil net longs – CFTC
SELL CRUDEOIL FEB 2022 @ 6300 SL 6380 TGT 6200-6140.MCX
NATURAL GAS
Natural gas trading range for the day is 271.8-301.6.
Natural gas gained amid mounting concerns about Russian supplies and forecasts for more cold and heating use this week and a 17% jump in European gas futures.
However upside seen limited as output slowly recovers from well freeze-offs earlier in January.
U.S. speculators last week boosted their net long futures and options positions for a second week in a row
Output in the U.S. Lower 48 states had averaged 94.3 billion cubic feet per day (bcfd) so far in January
BUY NAT GAS FEB 2022 @ 284.00 SL 276.00 TGT 292.00-296.00.MCX
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