Crude yesterday also traded with a mix view and settled flat at 3898, today we can see some pull back in the market as 3875 treated as a good support to the market and support from Chinese demand and unrest in the Middle East, which could trigger supply disruptions of crude oil. China's crude oil imports rose 27% from a year ago to the fourth highest on record as the country's trade surplus fell to its lowest in 9months in Jan. While market concerns eased after Mubarak stepped down and gave power to the army last week, protests in neighboring Iran, Yemen and Bahrain limited the market's relief. Now technically market is trading in the range as RSI for 18days is currently indicating 37.02, where as 50DMA is at 4103.46 and crude is trading below the same and getting support at 3869 and below could see a test of 3845 level, And resistance is now likely to be seen at 3928, a move above could see prices testing 3963.

Trading Ideas:

Crude trading range is 3845-3963.

Crude oil fell yesterday as high domestic stockpiles weighed.

Crude oil looks to get resistance at 3916 and support is seen at 3868 level.

China's crude oil imports in January rose 27 percent from a year-ago