Fundamental of the Day
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8.00 PM Crude Oil Inventories
Crude Oil
Commentary
4th January 2022, 24th OPEC and non-OPEC Ministerial Meeting via Video Conference
Crude has cross its 50% price 5567 will try touch 5911, WTI Crude has cross 73.92$ & upwards to 78.51$.
On Weekly basis 78.51$ is a strong resistance & 5911 which is a strong sell this may applicable till Next Tuesday, 4th January 2022 due to OPEC Meeting.
Technical View
Our Preference: Sell Crude near 5900 for target 5600 with SL 5960
Alternative Scenario: Buy Crude 5606+ for target 5740, add more buy above 5775+ for target 5880 SL 5550
Trading Zone
5739 SL 5765 target 5665
5785+ Buy stop SL 35 point
Natural gas
Range: 291.9 - 314
Our Preference: Buy Natural Gas 292+ target 302 & 311 with SL only below 287
Alternative Scenario: Sell Natural Gas 314 SL 318 for target 298