Sell Crudeoil Feb @ 6350 SL 6450 TGT 6250-6150. MCX - Kedia Advisory
Crudeoil
Observations
Crudeoil trading range for the day is 6129-6579.
Crude oil prices retreated after the U.S. pulled back from initial sanctions threats against Colombia.
Saudi Arabia may hike March oil prices for Asia to highest in over a year
OPEC+ yet to react to Trump call for lower prices
Stocks of crude oil in the US fell for a fell for a ninth consecutive week.
SELL CRUDEOIL FEB @ 6350 SL 6450 TGT 6250-6150. MCX
Naturalgas
Observations
Naturalgas trading range for the day is 268.5-294.1.
Natural gas dropped as traders anticipated a major winter storm expected to impact parts of the US this week.
US utilities withdrew 233 billion cubic feet of natural gas from storage to 2,896 bcf.
Inventories are 1.9% below the corresponding period of the previous year, but remain 0.7% above the ongoing five-year average.
Meteorologists projected that weather in the Lower 48 states would remain colder than normal through Jan. 27
SELL NATURALGAS FEB @ 285 SL 295 TGT 272-265. MCX
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