Sell Crudeoil Dec 2021 @ 5640 SL 5740 TGT 5540-5510.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5548-5838.
Crude oil prices gains despite rising COVID-19 cases in Europe and a potential release of Japanese oil reserves raised concerns about oversupply
OPEC+ oil output below target again in Oct as members cut more than agreed
Speculators cut U.S. crude oil net longs – CFTC
Japan considers releasing oil reserves to curb prices – Kyodo
SELL CRUDEOIL DEC 2021 @ 5640 SL 5740 TGT 5540-5510.MCX
NATURAL GAS
Natural gas trading range for the day is 336.1-380.3.
Natural gas dropped on forecasts for milder than normal weather and lower demand over the next two weeks than previously expected.
Prices also slumped on near record U.S. output, healthy U.S. stockpiles and a decline in European gas futures.
EIA said utilities added 26 billion cubic feet (bcf) of gas into storage during the week ended Nov. 12. U.S.
Speculators cut their net long positions for a sixth week to their lowest since June 2020
BUY NAT GAS NOV 2021 @ 370.00 SL 360.00 TGT 384.00-392.00.MCX
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