Crude oil prices ended positive on Saturday on short covering after for third day Friday on growing fears that rising inventories are overwhelming demand. China imported 21.06 million metric tons of crude oil in March, equivalent to 4.98 million barrels per day, preliminary data from the General Administration of Customs said. U.S. plants operated at 84.5 percent of capacity last week, the highest level since October, the Energy Department said on April 7. Now support for the crude is seen at 3743 and below could see a test of 3734. Resistance is now likely to be seen at 3759, a move above could see prices testing 3766.

Trading Ideas:

Crude trading range is 3734-3766.

Crude oil prices ended positive on Saturday on short covering

Support for the crude is at 3734 and resistance is at 3778.

China imported 21.06 million metric tons of crude oil in March

BUY CRUDE APR @ 3755-3765 SL 3740 TGT 3780-3800-3824.MCX