Crude oil settled close to a one-month low as worsening U.S. demand caused investors to steer clear of  buying oil despite a weakening dollar. Crude had floated around $80 a barrel for weeks on the promise of improved demand down the line, but the present glut of oil and fuel proved too big to ignore over the last two days. now technically market is trading in the range as RSI for 18days is currently indicating 44.46, where as 50DMA is at 3534 and crude is trading above the same and getting support at 3547 and below could see a test of 3511 level, And resistance is now likely to be seen at 3574, a move above could see prices testing 3612.

Trading Ideas:

CRUDE TRADING RANGE IS 3480-3620.

CRUDE OIL SETTLED CLOSE TO A ONE-MONTH LOW AS WORSENING DEMAND

BUY CRUDE NOV @ 3540-3550 SL 3515 TGT 3578-3599-3626. MCX

NOW CRUDE IS TAKING SUP AT 3532 BELOW THIS LOOKS TILL 3515-3500.

THE EIA, IEA AND OPEC ALL SLIGHTLY RAISED FORECAST FOR GLOBAL OIL CONSUMPTION CRUDE $ IS TRADING AT : 77.09$