Crude yesterday initially dipped with the metals on the goldmans news but rose from a three-week low on speculation a report tomorrow will show crude stockpiles in the U.S., the world’s biggest energy consumer, declined for a second week and as rising equity prices buoyed investor sentiment. Oil inventories probably fell 600k barrels last week, stocks yesterday reversed losses as Citigroup Inc. beat profit estimates and SEC was divided in its decision to sue Goldman Sachs Group Inc. Asian stocks rose today, led by finance companies. Now technically market is trading in the range as RSI for 18days is currently indicating 43.73, where as 50DMA is at 3759 and crude is trading below the same and getting support at 3682 and below could see a test of 3645 level, And resistance is now likely to be seen at 3753, a move above could see prices testing 3787.

Trading Ideas:

Trading Ideas:

Crude trading range is 3541-3737.

Crude yesterday intially dipped with the metals on the goldmans news

Support for the crude is at 3612 and resistance is at 3652.

Oil inventories probably fell 600k barrels last week

BUY CRUDE MAY @ 3680-3690 SL 3665 TGT 3712-3734-3756.MCX