Crude oil settled flat to firm Saturday after drifting lower Friday after a downgrade to Spain's credit rating sent the euro down against the dollar. Oil prices are underpinned by outlook on the Atlantic Hurricane season, which begins on June 1. Thursday, the National Oceanic and Atmospheric Administration said that the Gulf of Mexico may witness one of the most intense storm seasons in recent times this year.

Now support for the crude is seen at 3455 and below could see a test of 3451. Resistance is now likely to be seen at 3466, a move above could see prices testing 3473.

Trading Ideas:

Crude trading range is 3451-3473.

Crude oil settled flat to firm Saturday after drifting lower Friday as euro was down against $.

Support for the crude is seen at 3438 and resistance is at 3482.

Oil prices are underpinned by outlook on Atlantic Hurricane season, which begins on June 1

BUY CRUDE JUNE @ 3425-3445 SL 3408 TGT 3465-3480-3500.MCX