Buy Crudeoil Dec @ 5800 SL 5720 TGT 5580-5950. MCX - Kedia Advisory
Crudeoil
Observations
Crudeoil trading range for the day is 5716-5932.
Crude oil gains amid hopes demand from China will increase thanks to the recent stimulus announcement
China's crude oil imports jumped in November from a year earlier for the first annual growth in seven months.
US crude oil output hit record last week, EIA data shows
US crude oil imports from Mexico falls to the lowest in records, EIA says
BUY CRUDEOIL DEC @ 5800 SL 5720 TGT 5580-5950. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 257-275.8.
Natural gas slid on rising output, forecasts for milder weather and lower heating demand.
Pressure also seen amid a decline in the amount of gas flowing to LNG export plants to a one-month low.
Average gas output in the Lower 48 U.S. states rose to 102.7 bcfd so far in December, up from 101.5 bcfd in November.
Meteorologists projected the weather in the Lower 48 states would remain mostly warmer than normal through Dec. 25.
BUY NATURALGAS DEC @ 266 SL 262 TGT 273-278. MCX
