Crude oil ended higher extending a rally as the dollar weakened and despite government data showing a surprise increase in crude stockpiles last week. EIA data showed crude stocks rose 1.3 million barrels to 327.3 million barrels last week, against data from the American Petroleum Institute released Tuesday that showed a a 2.3-million-barrel drawdown. Now support for the crude is seen at 3724 and below could see a test of 3665. Resistance is now likely to be seen at 3819, a move above could see prices testing 3855.

Trading Ideas:

Crude trading range is 3720-3840.

Crude oil ended higher as dollar weakened despite data showed a surprise increase in stockpiles

Crude oil is now having support at 3758 and resistance at 3814 level

EIA data showed crude stocks rose 1.3 million barrels to 327.3 million barrels

BUY CRUDE JAN @ 3770-3780 SL 3750 TGT 3800-3816-3836.MCX