Commodity Outlook for Crude Oil by KediaCommodity

Crude OilCrude oil ended more than 2 percent lower rattled by economic data that raised more anxiety about the strength of the U.S recovery from recession. Seaborne oil exports by OPEC, excluding Angola and Ecuador, will fall by 290,000 barrels per day in the four weeks to March 13. Now support for the crude is seen at 3562 and below could see a test of 3515. Resistance is now likely to be seen at 3679, a move above could see prices testing 3749.

Trading Ideas:

Crude trading range is 3515-3749.

Crude ends down over 2 pct on economic worry

Support for the crude is at 3584 and resistance is at 3628 level.

Seaborne oil exports by OPEC will fall by 290,000 barrels per day

BUY CRUDE MAR @ 3600-3610 SL 3576 TGT 3632-3654-3680.MCX