Sell Crude Oil OCT @ 7200 SL 7300 TGT 7100-7000. MCX - Kedia Advisory
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Crude Oil
Observation
Crudeoil trading range for the day is 7036-7290.
Crude oil prices eased with traders cautious as they watched for potential supply disruptions
Brent and WTI had surged more than $3.50 as the clashes raised fears that the conflict could spread beyond Gaza.
There is still plenty of uncertainty regarding the geopolitical ramifications of the ongoing conflict in the Middle East.
Goldman Sachs sees no immediate impact on oil inventories from Israel attacks
SELL CRUDEOIL OCT @ 7200 SL 7300 TGT 7100-7000. MCX
Natural Gas
Observation
Naturalgas trading range for the day is 273-291.
Natural gas dropped amid forecasts for milder weather and less heating demand
However, downside seen limited on rising exports and higher global gas prices.
Global natgas demand set for slower growth to 2026,
IEA says Average gas output in the lower 48 U.S. states rose to 102.7 bcfd so far in October, up from 102.6 bcfd in September
BUY NATURALGAS OCT @ 275 SL 270 TGT 283-288. MCX
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