SELL CRUDEOIL OCT @ 5520 SL 5600 TGT 5420-5350. MCX - Kedia Advisory

Crudeoil
SELL CRUDEOIL OCT @ 5520 SL 5600 TGT 5420-5350. MCX
Observations
Crudeoil trading range for the day is 5392-5580.
Crude oil prices gained amid lower-than-expected OPEC+ output hike
OPEC+ will add oil output from November by 137,000 bpd.
Ukraine continued to intensify its attacks on Russian energy facilities.
Geopolitical tensions and cautious OPEC+ policy support bullish oil sentiment.
Naturalgas
BUY NATURALGAS OCT @ 298 SL 294 TGT 302-306. MCX
Observations
Naturalgas trading range for the day is 289.9-314.9.
Natural gas ended with gains amid supply and demand cues
EIA storage report shows smaller-than-expected build of 53 bcf
Total inventories at 3.561 tcf, slightly above last year’s level
Lower 48 output eases, LNG exports reach record high









