Sell CRUDEOIL Dec @ 5850 SL 5950 TGT 5750-5650. MCX - Kedia Advisory
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Crudeoil
Observations
Crudeoil trading range for the day is 5712-5902.
Crude oil gains as traders anticipate another delay in output increase by OPEC+
Saudi, Russia, Kazakhstan urge commitment to OPEC+ voluntary cuts
Meanwhile, Middle East tensions eased after Israel and Hezbollah reached a 60-day cease-fire deal through US-mediated talks.
API data showed a 5.9 million barrel drop in US crude oil inventories last week, the largest decline since August.
SELL CRUDEOIL DEC @ 5850 SL 5950 TGT 5750-5650. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 257.4-299.6.
Natural gas fell on rising output and forecasts for less cold weather.
Cold weather boosts spot gas prices to highest since January in parts of US
Problems at Freeport LNG in Texas limiting US LNG feedgas
Average gas output in the Lower 48 U.S. states rose to 101.4 bcfd so far in November from 101.1 bcfd in October
SELL NATURALGAS DEC @ 276 SL 280 TGT 270-266. MCX
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Gold trading range for the day is 71370-73460 - Kedia Advisory
