Sell Crudeoil Nov 2021 @ 6050 SL 6140 TGT 5940-5860.MCX - Kedia Advisory
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CRUDEOIL
Crude oil trading range for the day is 5901-6159.
Crude oil edged higher as supply from producer countries remained tight.
Oil price rally set to ease off as supply rebounds, IEA says
Crude oil production at biggest U.S. shale field set to hit new record
Money managers raised their net long U.S. crude futures and options positions in the week to Nov. 9
SELL CRUDEOIL NOV 2021 @ 6050 SL 6140 TGT 5940-5860.MCX
NATURAL GAS
Natural gas trading range for the day is 364.1-415.9.
Natural gas rose on forecasts for colder weather and higher heating demand next week than previously expected.
Gas prices in Europe jumped over 8% for a second day in a row on worries Russian gas giant Gazprom PAO will not deliver enough fuel this winter
Speculators cut their net long positions for a sixth week to their lowest since June 2020
Data provider Refinitiv said output in the U.S. Lower 48 states averaged 96.0 billion cubic feet per day (bcfd) so far in November
BUY NAT GAS NOV 2021 @ 362.00 SL 352.00 TGT 374.00-382.00.MCX
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