Buy Crudeoil Feb @ 6200 SL 6120 TGT 6280-6350. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 6200 SL 6120 TGT 6280-6350. MCX
Observations
Crudeoil trading range for the day is 6160-6298.
Crude oil prices rose after new sanctions were imposed on Iran's crude exports.
However, upside seen limited hurt by U.S. President Donald Trump's renewed trade war on China.
U.S. President Trump also repeating pledge to increase US oil production
U.S. crude oil imports from Mexico fell by 372,000 bpd to a weekly record low of 149,000 bpd
Natural Gas
BUY NATURALGAS FEB @ 290 SL 282 TGT 298-305. MCX
Observations
Naturalgas trading range for the day is 288.7-303.9.
Natural gas slid on rising output and forecasts for lower demand next week than previously expected.
US gas storage withdrawals may have hit a record high in January
US gas production on track for record high in February
US LNG export feedgas on track for record high in February
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