Crude ended weak as per expectation but recovered some of its losses as the upheaval in Egypt kept investor concerns about the region in focus and offset rising crude oil and gasoline stockpiles in the United States. Crude inventories rose to a seven-week high last week, the U.S. Energy Department reported, adding 2.59 million barrels to 343.2 million. Analysts surveyed by Bloomberg News had expected an increase of 2.5 million. Now technically market is trading in the range as RSI for 18days is currently indicating 52.29, where as 50DMA is at 4115.18 and crude is trading above the same and getting support at 4122 and below could see a test of 4093 level, And resistance is now likely to be seen at 4192, a move above could see prices testing 4233.

Trading Ideas:

Crude trading range is 4093-4233.

Crude ended weak as per expectation but recovered some of its losses as Egypt issue kept investor concerns active

Crude oil looks to get resistance at 4184 and support is seen at 4122 level.

U.S. crude inventories rose 2.59 million barrels last week

SELL CRUDE FEB @ 4150-4165 SL 4208 TGT 4132-4105-4075.MCX (STBT)

Crude $ is Trading at : 91.23$