Sell Crudeoil JAN 2022 @ 5700 SL 5790 TGT 5580-5520.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5595-5871.
Crude oil gains after OPEC+ agrees to maintain current strategy with a 400,000 BPD rise in oil output in February
OPEC+ & JMMC: From Q1 2022 onwards, the oil market will be in oversupply
Investors continued to monitor developments around the coronavirus pandemic amid rising global infection rates
Speculators raise U.S. crude oil net longs – CFTC
SELL CRUDEOIL JAN 2022 @ 5700 SL 5790 TGT 5580-5520.MCX
NATURAL GAS
Natural gas trading range for the day is 268.7-300.7.
Natural gas rose on forecasts for higher heating use over the next two weeks
European gas prices soared as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.
Speculators last week boosted their net long positions by the most of any week since September - CFTC
With the weather expected to remain colder than normal through mid-January, projected average U.S. gas demand, would jump from 128.4 bcfd this week
BUY NAT GAS JAN 2022 @ 275.00 SL 265.00 TGT 286.00-290.00.MCX
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