Crude oil ended down as optimism faded that China’s plan to add more flexibility in the yuan’s fixed exchange rate would strengthen the global economic recovery. Iraq, holder of the world’s third- largest oil reserves, exported 9.7 percent more crude in May than in April, the first increase in three months, an oil ministry official said. Now support for the crude is seen at 3565 and below could see a test of 3536. Resistance is now likely to be seen at 3644, a move above could see prices testing 3694.

Trading Ideas:

Crude trading range is 3536-3694.

Crude oil ended lower as optimism over China’s currency move fades

Crude oil is taking support at 3572 and resistance at 3624 level

Iraq crude exports rise in may first time in three months

SELL CRUDE JULY @ 3600-3610 SL 3636 TGT 3582-3565.MCX