Crude oil pared losses after falling sharply on government data showed that crude stocks rose last week for the 10th week in a row, hitting the highest level since mid-June 2009. Crude inventories rose due to a big increase in imports, negating large gains in refinery utilization and crude runs, U.S. Energy Information Administration data showed. Now support for the crude is seen at 3825 and below could see a test of 3801. Resistance is now likely to be seen at 3869, a move above could see prices testing 3889.

Trading Ideas:

Crude trading range is 3801-3889.

Crude oil pared losses after falling sharply on government data showed that stocks rose

Support for the crude is at 3525 and resistance is at 3869.

Crude inventories rose due to a big increase in imports

SELL CRUDE APR @ 3840-3850 SL 3878 TGT 3826-3805-3786.MCX