Buy Natural Gas NOV @ 260 SL 255 TGT 266-270. MCX - Kedia Advisory
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CRUDE OIL
Observations
Crudeoil trading range for the day is 6321-6823.
Crude oil dropped as Middle East tensions receded
China reported mixed trade data, stoking fresh concerns over economic headwinds.
OPEC+ has taken steps to achieve 'stable' crude market in 2023
China October crude oil imports up 13.5% on last year
SELL CRUDEOIL NOV @ 6600 SL 6700 TGT 6450-6350. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 251-280.8.
Natural gas dropped on record output and forecasts for mild weather to continue through late November
Natural gas production has been on the rise in November, following a record high in October.
Additionally, there is currently about 6% more gas in storage than is typical for this time of year.
Gas flows to US LNG export facilities are increasing but remain below the record levels observed in April.
BUY NATURALGAS NOV @ 260 SL 255 TGT 266-270. MCX
