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Buy Crudeoil Oct @ 5780 SL 5680 TGT 5880-5980. MCX - Kedia Advisory
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CRUDEOIL
Observation
Crudeoil trading range for the day is 5702-6074.
Crude oil declines as investors weigh whether new China stimulus will boost demand
Crude oil inventories in the US fell by 4.471 million barrels
Crude stocks at the Cushing, Oklahoma, went up by 0.116 million barrels, following a 1.979 million barrel fall.
Gasoline stocks decreased by 1.538 million, worse than forecasts of a 0.02 million drop.
BUY CRUDEOIL OCT @ 5780 SL 5680 TGT 5880-5980. MCX
NATURAL GAS
Observation
Naturalgas trading range for the day is 231-244.2.
Natural gas edged up on forecasts for higher demand over the next two weeks
Support also see amid a continued reduction in output ahead of Tropical Storm Helene.
Gas output in the Lower 48 U.S. states has slid to an average of 102.0 bcfd so far in September
LSEG forecast average gas demand in the Lower 48 states, will slide from 98.8 bcfd this week to 97.6 bcfd next week.
SELL NATURALGAS OCT @ 240 SL 244 TGT 236-232. MCX
