Crude Oil prices fell with ending a 4-day rally market, as China in a surprise move rose for a second time this year its bank reserve requirement, up 50 basis points, and European countries failed to spell out promises to help financially troubled Greece with its sovereign debt. now technically market is trading in the range as RSI for 18days is currently indicating 46.09, where as 50DMA is at 3583.68 and crude is trading below the same and getting support at 3420 and below could see a test of 3408 level, And resistance is now likely to be seen at 3446, a move above could see prices testing 3460.

Trading Ideas:

Crude trading range is 3408-3460.

Oil traded near $74 a barrel trading in the range as US market where closed.

Markets are waiting to see the outcome of the European Commission meeting and the details of any sort of bailout plan

Crude overall above 3400 mark look firm and for resistance at 3480 level.

BUY CRUDE FEB @ 3400-3420 SL 3376 TGT 3445-3470-3495.MCX

CRUDE $ IS TRADING AT : 74.2$