Sell Crudeoil Aug @ 5950 SL 6050 TGT 5850-5750. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL AUG @ 5950 SL 6050 TGT 5850-5750. MCX
Observations
Crudeoil trading range for the day is 5703-6181.
Crude oil fell amid concerns over US tariffs hurting global demand.
Trump reaffirmed 10% global base tariff, adding steep retaliatory duties.
China warned of harsh penalties for continuing Russian crude oil purchases.
OPEC+ maintains supply curbs despite controlling half of global oil output.
NATURALGAS
SELL NATURALGAS AUG @ 274 SL 278 TGT 270-265. MCX
Observations
Naturalgas trading range for the day is 263.5-277.1.
Natural gas dropped pressured by oversupply concerns and mild weather forecasts.
EIA reported 48 bcf injection, beating forecast of 38 bcf
Lower 48 output hit 107.5 bcfd, surpassing June’s previous record.
Cooler weather outlook reducing immediate power sector demand for natural gas
