Sell Crude Oil NOV @ 8400 SL ABOVE 8500 TGT 8200. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL NOV @ 8400 SL ABOVE 8500 TGT 8200. MCX
Observations
Crude Oil trading range for the day is 7635-9555.
Crude oil fell as investors awaited next move in US-Israeli war with Iran after President Trump's Party lost control of Congress.
Trump told the Financial Times that the United States had no immediate plans to strike Iran.
Iran's IRGC said four oil tankers sank after striking mines south of the Strait of Hormuz and two other vessels were detained.
US crude oil inventories fell by 5.267 million barrels, following a 2.031 million-barrel decline in the previous week - API
NATURALGAS
SELL NATURALGAS NOV @ 285 SL ABOVE 290 TGT 275. MCX
Observations
Natural Gas trading range for the day is 266.50-291.50.
Natural gas edged up on a drop in output in recent days.
Daily output is on track to fall to a five-month low of 108.1 bcfd on Tuesday
Storage surplus likely widened to 1.4% above five-year norm before EIA report
Mild weather through Nov. 18 is expected to suppress nearterm heating demand
