Crude oil rose as the dollar weakened, stock markets edged up and markets awaited results of a Federal Reserve policy meeting. Traders also await results from OPEC's meeting today in Vienna, where oil ministers are expected to leave output targets unchanged while seeking better compliance. To access a list of stories on OPEC's meeting. Oil demand is picking up, Saudi Oil Minister Ali al-Naimi said, which could mean OPEC does not have to take any action on supply this year. Now support for the crude is seen at 3652 and below could see a test of 3586. Resistance is now likely to be seen at 3759, a move above could see prices testing 3800.

Trading Ideas:

Crude trading range is 3586-3800.

Crude bounces on weak dollar awaiting Fed

Support for the crude is seen at 3696 and resistance is at 3748.

Today crude oil inventories: Exp: 0.8M Prev: 1.4M

SELL CRUDE MAR BELOW 3700 SL 3734 TGT 3680-3656-3638.MCX