Crude oil traded near $76 a barrel, poised for a weekly decline on concern that the pace of fuel demand recovery in the U. S., the biggest energy- consuming nation, may stall. Now technically market is trading in the range as RSI for 18days is currently indicating 46.13, where as 50DMA is at 3614.14 and crude is trading below the same and getting support at 3547 and below could see a test of 3528 level, And resistance is now likely to be seen at 3594, a move above could see prices testing 3622.

Trading Ideas:

CRUDE TRADING RANGE IS 3510-3610.

AFTER DUBAI NEWS PRESSURE CAN BE SEEN ON THE CRUDE OIL PRICES ALSO.

SELL CRUDE DEC BELOW 3562 SL 3584 TGT 3550-3528-3502. MCX

NOW CRUDE IS TAKING SUP AT 3544 BELOW THIS LOOKS TILL 3520-3500.

CRUDE OIL STOCKPILES ROSE 1.0 MILLION BARRELS TO 337.8 MILLION IN THE WEEK