Crude oil prices drifted lower weighed by strengthening dollar and rising supply levels against economic recovery-linked demand hopes. Despite optimism about a sustainable economic recovery in the US, its mounting oil stockpiles indicate that consumption is yet to pick up. U.S crude oil is expected to average $81.06 a barrel in 2010. Now support for the crude is seen at 3708 and below could see a test of 3681. Resistance is now likely to be seen at 3783, a move above could see prices testing 3831.

Trading Ideas:

Crude trading range is 3681-3831.

Crude oil prices drifted lower weighed by strengthening dollar and rising supply levels

Support for the crude is at 3714 and resistance is at 3762.

U.S crude oil is expected to average $81.06 a barrel in 2010

SELL CRUDE MAY BELOW 3730 SL 3756 TGT 3716-3702-3686.MCX

CRUDE $ IS TRADING AT : 83.78$