Crude ended unchanged on Saturday on profit booking after rising more than a percent on Friday following news that Iran had occupied an Iraqi oil well in a disputed section of the border. A dispute between Iran and Iraq and cold weather across the U. S. and Europe helped support prices.

Kuwait Oil Co said that it was trying to stop an oil leak at a well in the al-Magwa oil field, though production was not affected. Now support for the crude is seen at 3487 and below could see a test of 3471. Resistance is now likely to be seen at 3514, a move above could see prices testing 3525.

Trading Ideas:

CRUDE TRADING RANGE IS 3450-3550.

CRUDE ENDED UNCHANGED ON SATURDAY ON PROFIT BOOKING

AS PER OVER EXPECTATION CRUDE ABV 70$ THIS TIME WILL RALLY TILL 78$

COLD WEATHER ACROSS THE U. S. AND EUROPE HELPED SUPPORT PRICES

BUY CRUDE JAN @ 3510-3525 SL 3488 TGT 3548-3565-3590.MCX