Commodity Outlook for Crude Oil by KediaCommodity
Crude oil climbed after rising as the dollar fell on European Union plans to help Greece and amid signals that economic growth may accelerate. Crude oil supplies probably rose 2.5 million barrels last week from 351.3 million. Crude imports jumped 12 percent to 9.4 million barrels a day, the highest level since September, the report showed. U.S. fuel demand over the past four weeks averaged 19.36 million barrels a day, up 3.6 percent from a year earlier Now support for the crude is seen at 3649 and below could see a test of 3592. Resistance is now likely to be seen at 3744, a move above could see prices testing 3782.
Trading Ideas:
Crude trading range is 3620-3642.
Crude oil climbed after rising as the dollar fell on European Union plans to help Greece
Support for the crude is at 3684 and resistance is at 3728.
Crude oil supplies probably rose 2.5 million barrels last week from 351.3 million
BUY CRUDE APR @ 3675-3685 SL 3650 TGT 3700-3718-3734.MCX