Commodity Outlook for Crude Oil by KediaCommodity

Crude OilCrude oil ended flat as the euro skidded late in the session against the dollar, encouraging selling in energy futures. Oil inventories at the Cushing, Oklahoma, crude oil hub for NYMEX-traded oil rose 754,739 barrels to 31.8 million barrels in the week to March 23. Now support for the crude is seen at 3670 and below could see a test of 3648. Resistance is now likely to be seen at 3714, a move above could see prices testing 3736.

Trading Ideas:

Crude trading range is 3648-3736.

Crude ended flat as euro flips lower vs dollar

Support for the crude is at 3678 and resistance is at 3722.

Oil inventories at the Cushing, Oklahoma oil rose 754,739 barrels in the week to March 23

SELL CRUDE APR @ 3700 SL 3722 TGT 3688-3672-3660.MCX (EVE FIRM)