Sell Natural Gas Nov @ 418 SL 425 TGT 409-402. MCX - Kedia Advisory
CRUDEOIL
SELL CRUDEOIL DEC @ 5240 SL 5320 TGT 5160-5080. MCX
Observations
Crudeoil trading range for the day is 5082-5324.
Crude oil dropped as the United States pushed for a Russia-Ukraine peace deal that could swell global supply.
Ukrainian President Volodymyr Zelenskiy said he would work with Washington on a plan to end the war.
EIA reported a larger-than-expected rise in U.S. crude stocks last week
Oil prices are expected to decline through 2026, Goldman Sachs said, citing a supply wave that keeps the market in surplus.
NATURAL GAS
SELL NATURALGAS NOV @ 418 SL 425 TGT 409-402. MCX
Observations
Naturalgas trading range for the day is 386.2-433.4.
Natural gas climbed as some forecasts shifted colder heading into early December.
After several days of warmer revisions, the latest European model added heating demand for late
November and early December, helping spark buying. Support also comes from expectations of the first storage withdrawal of the season after last week’s cold snap.
EIA said energy firms pulled 14 bcf of gas out of storage during the week ended November 14.
