Crude oil ended higher as the market brimmed with optimism that economic recovery was taking hold in the wake of Friday's positive jobs report. Somali pirates seized on Sunday a supertanker carrying Iraqi crude oil to the United States. Inventories of crude oil probably rose 1 million barrels, increasing for a 10th consecutive week, the longest stretch of gains since late 2004, amid low levels of refinery utilization. Now support for the crude is seen at 3808 and below could see a test of 3772. Resistance is now likely to be seen at 3871, a move above could see prices testing 3898.

Trading Ideas:

Crude trading range is 3772-3898.

Crude oil ended higher on optimism over economic recovery

Support for the crude is at 3818 and resistance is at 3872.

Inventories of crude oil probably rose 1 million barrels

CRUDE $ IS TRADING AT : 86.36$

SELL CRUDE APR @ 3850 SL 3878 TGT 3826-3805-3786.MCX