SELL NATURALGAS JAN @ 360 SL 366 TGT 352-344. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL FEB @ 5550 SL 5650 TGT 5450-5350. MCX
Observations
Crudeoil trading range for the day is 5305-5643.
Crude oil gained amid firmer global economic growth expectations and a weaker U.S. dollar.
The oil market is also finding some support from better-than-expected fourth-quarter Chinese gross domestic product data.
Tightness persisted in certain parts of the market, with disruptions in the Black Sea and a temporary halt at Kazakhstan’s Tengiz oil field.
Investors are now looking to the IEA’s monthly report on Wednesday for fresh insights into global supply and demand trends.
Natural Gas
SELL NATURALGAS JAN @ 360 SL 366 TGT 352-344. MCX
Observations
Naturalgas trading range for the day is 305.7-385.3.
Natural gas rose as sharply colder weather forecasts drove a weather led rally.
Forecasts over the weekend already pointed to very cold conditions but shifted toward much colder scenarios as the polar vortex expanded.
NOAA’s Climate Prediction Center issued a high priority alert for extreme Arctic cold and potential winter storms .
Meanwhile, gas production remains elevated and LNG export flows are modestly lower.
