Commodity Mantra by SMC

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✅✅CRUDE OIL UPDATE:

💥💥Crude oil prices surged on Friday and were on track for a third straight week of gains as traders focused on potential supply disruptions from more sanctions on Russia.

💥💥The United States will impose some of the harshest sanctions on the Russian oil industry to date, designating 180 vessels, dozens of traders, two major oil companies and some top Russian oil executives, a document seen by Reuters said.

💥💥Ahead of U.S. President-elect Donald Trump's inauguration on Jan. 20, expectations have been mounting that President Joe Biden's administration will tighten sanctions against Russia and Iran, at a time when oil stockpiles remain low.

💥💥Technically,crude oil Jan MCX trading around 6520 levels, up by rs.135 & 2.10%. The next immediate resistance is seen around 6550 and support 6450. Sustainable trade above 6550 can test 6620/6700 for intraday basis.

NATURAL GAS TAKEN THE TREND LINE SUPPORT FROM 300 LEVELS AND BOUNCED TOWARDS 340 LEVELS. NOW THE RECENT RESISTANCE IS SEEN AROUND 345 THEN 355.50 AND SUPPORT IS SEEN AROUND 319 THEN 300.

💥💥Non Farm Payroll came stronger whereas it was expected to come negative.
💥💥Impact: Buying return in base metal and energy.

U.S. Average Hourly Earnings YoY

Average Hourly Earnings

💥💥PREMIUM CALLS PERFORMANCE REPORT OF DEC'2024.🔥🔥

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✅✅NATURAL GAS UPDATE: Colder than normal temperatures will continue over much of the interior US the next few days w/lows of -10s to 20s, while also still chilly over Texas and the South w/lows of 10s to 30s. The West Coast will remain the milder exception w/highs of 40s-70s. Temperatures will moderate some over the interior US late this weekend w/highs of 20s-50s, although followed by another frigid system into the US next week. Overall, High to Very High demand much of the next 7-days

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