Energy Report of 7th Jan 2020

Energy Report of 7th Jan 2020

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ENERGY REPORT
Crude Oil
  • IRAN US Tension is on peak.
  • IF Iran will take revenge with US then we will see the crude oil from 4460+ to 4690 & 5000+ again
  • As there are 2 major factor will drive 1st WTI Crude 2nd USDINR will get more weaker which will drag upside.
  • Crude has the last high of 4694 which has not cross yet. While from 3958 low to 4670 high = 4456 is a crucial support,Buy can initiate

Range: 4456-4690
Our Preference: Buy Crude 4460 target 4576 & 4670 SL 4430 (CF)
 
Alternative Scenario: Sell Crude 4613 target 4550 SL 4640
 
Jobbing Call: Buy 4576 target 4538 SL 4586
 
COMEX 62.34$ is a good support, it up only above that till 66$. SELL ONLY below 62$.

Natural Gas (Expiry 28 Jan 2020 )
 
Range: 158-145
Our Preference: Sell NG 156 target 149 SL 158

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