Sell NATURAL GAS JAN @ 336 SL 342 TGT 327-322. MCX - Kedia Advisory
CRUDEOIL
Observations
Crudeoil trading range for the day is 6456-6810.
Crude oil fell amid speculation over potential changes in U.S. sanctions on Russian oil under the incoming Trump administration.
Traders will also look for further details on his trade tariffs on China and potential sanctions on Iran and Venezuela.
Additionally, easing tensions in the Middle East weighed on prices, after Hamas and Israel exchanged hostages and prisoners.
U.S. energy cut the number of oil and natural gas rigs operating for a second week in a row to the lowest since December 2021
SELL CRUDEOIL FEB @ 6650 SL 6750 TGT 6550-6450. MCX
NATURAL GAS
Observations
Naturalgas trading range for the day is 318.1-346.9.
Natural gas sank amid an eased demand outlook as markets awaited regulation changes under the Trump presidential administration.
Forecasts of warmer weather prevailed through later January following the Arctic blast before the weekend, allowing traders to take profits.
Data showed a significant withdrawal of 258 billion cubic feet of gas from storage.
There was currently about 3% more gas in storage than usual for the time of year.
SELL NATURALGAS JAN @ 336 SL 342 TGT 327-322. MCX
