Buy Crudeoil May @ 5150 SL 5070 TGT 5240-5320. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL MAY @ 5150 SL 5070 TGT 5240-5320. MCX
Observations
Crudeoil trading range for the day is 5095-5313. Crude oil gains as trade tensions between
China and the United States showed signs of easing. The U.S. imposed sanctions on a third Chinese independent oil refinery for purchases of Iranian crude.
OPEC oil output edged lower in April as production declines in Libya, Venezuela and Iraq
U.S. President Trump said that China should open up its market to US and that 80% tariffs on Chinese goods "seems right".
Naturalgas
SELL NATURALGAS MAY @ 326 SL 332 TGT 320-314. MCX
Observations
Naturalgas trading range for the day is 302.3-336.1.
Natural gas climbed amid drop in output and forecasts for more demand next week
US LNG export feedgas hit record high in April
US gas output hit record high in April US gas storage about 3% over five-year normal
