Buy Crudeoil Jan @ 6000 SL 5900 TGT 6100-6200. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 5724-6258.
Crude oil prices drop as US hits record high in production
Concerns about increasing global supplies and slowing demand growth
US crude oil shipments via rail increase in October
Money managers increase net long positions in US crude futures and options
BUY CRUDEOIL JAN @ 6000 SL 5900 TGT 6100-6200. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 201.8-228.6.
Natural gas prices fall due to high production and increased reserves
Surge in natural gas exports, reaching all-time high in December.
Record-high domestic natural gas production in the US leads to higher reserves.
U.S. utilities pulled 87 bcf of natural gas out of storage last week
BUY NATURALGAS JAN @ 208 SL 203 TGT 214-218. MCX
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