Sell Naturalgas May @ 315 SL 320 TGT 308-302. MCX - Kedia Advisory
Crudeoil
SELL CRUDEOIL MAY @ 5340 SL 5420 TGT 5240-5160. MCX
Observations
Crudeoil trading range for the day is 5091-5499.
Crude oil climbed after the US and China agreed to reduce most tariffs on each other’s goods.
OPEC+ plans to accelerate output hikes in May and June.
A potential US-Iran nuclear deal, could ease concerns about global oil supply shortages.
Money managers cut their net long U.S. crude futures and options positions – CFTC
Naturalgas
SELL NATURALGAS MAY @ 315 SL 320 TGT 308-302. MCX
Observations
Naturalgas trading range for the day is 294.9-333.5.
Natural gas fell on a rise in output in recent days coupled with a decline in gas flows to LNG export plants.
That price drop came despite forecasts for more demand this week than previously expected.
Speculators last week boosted their net long futures and options positions for the first time in nine weeks.
Meteorologists projected temperatures in the Lower 48 states would remain mostly warmer than normal through May 27
