Buy Naturalgas Jan @ 218 SL 213 TGT 224-228. MCX - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 5693-6277.
Crude oil gains as supply concerns deepen with Libyan oilfield disruption
US crude oil output falls slightly in October, first monthly decline since April
US shipments of crude oil via rail increase in October
Expectations of ample oil supply in first half of 2024 contain prices
BUY CRUDEOIL JAN @ 6020 SL 5920 TGT 6120-6220. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 206.1-235.3.
Natural gas prices increased due to decline in daily output and colder weather forecasts.
Milder weather and lower heating demand expected this week and next. Gas flowing to U.S. LNG export plants declined slightly.
Utilities can pull less gas from storage due to lower heating demand.
BUY NATURALGAS JAN @ 218 SL 213 TGT 224-228. MCX
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