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Buy Crudeoil Aug @ 6260 SL 6180 TGT 6340-6400. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 6193-6423.
Crude oil dropped amid worries about demand in China
China's leaders vow to boost policy support for economy
US crude and fuel stockpiles expected to fall in latest report
OPEC+ panel meets on Thursday, no policy tweaks expected CRUDEOIL SEP-AUG -52.00
BUY CRUDEOIL AUG @ 6260 SL 6180 TGT 6340-6400. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 163.3-187.1.
Natural gas jumped on forecasts for record-breaking heat later this week.
That price increase came despite a rise in output
The amount of gas flowing to Freeport LNG in Texas was on track to reach a preliminary 14-month high.
There was currently about 17% more gas in storage than normal for this time of year.
BUY NATURALGAS AUG @ 175 SL 172 TGT 180-183. MCX
