Buy Naturalgas Feb @ 265 SL 260 TGT 275-285. MCX - Kedia Advisory
Crudeoil
BUY CRUDEOIL FEB @ 6320 SL 6240 TGT 6420-6500. MCX
Observations
Crudeoil trading range for the day is 6258-6426.
Crude oil gains as OPEC+ is unlikely to alter plans to raise output gradually.
US oil production falls in November from record high in October, EIA says
The U.S. oil rig count, rose by seven to 479 this week.
Money managers cut their net long U.S. crude futures and options positions in the week to Jan. 28 – CFTC
Naturalgas
BUY NATURALGAS FEB @ 265 SL 260 TGT 275-285. MCX
Observations
Naturalgas trading range for the day is 261.6-272.2.
Natural gas gained on forecasts calling for cooler weather in mid February that should boost heating demand.
EIA said utilities pulled 321 billion cubic feet (bcf) of gas out of storage during the week ended Jan. 24.
The number of rigs drilling for natural gas in the United States fell by 1 this week to 98.
Meteorologists predicted weather in the Lower 48 states would remain mostly warmer than normal through Feb. 15
