Sell Crudeoil May @ 4980 SL 5060 TGT 4900-4840. MCX - Kedia Advisory
SELL CRUDEOIL MAY @ 4980 SL 5060 TGT 4900-4840. MCX
Observations
Crudeoil trading range for the day is 4812-5106.
Crude oil prices fall amid weak US GDP and China factory data.
Trade tensions and global demand fears weigh on sentiment.
OPEC+ may raise output; Saudi Arabia signals comfort with lower prices.
Trump’s threat of secondary sanctions on Iran buyers adds bullish risk.
Naturalgas
BUY NATURALGAS MAY @ 302 SL 296 TGT 310-315. MCX
Observations
Naturalgas trading range for the day is 280.9-320.9.
Natural gas climbed on a drop in output over recent days and forecasts for more demand.
Gas stockpiles were around 1% above the five-year normal.
US utilities added 107 billion cubic feet of gas to storage to 2.041 trillion cubic feet
Meteorologists projected temperatures in the Lower 48 states would remain mostly warmer than normal through May 17.
