Crude ended higher for a second straight day on fears that growing citizen protests could engulf oil producers in the Middle East and cause supply disruptions. Short-covering ahead of the front-month March contract's expiration also pulled prices higher. Now technically market is trading in the range as RSI for 18days is currently indicating 39.83, where as 50DMA is at 4091.98 and crude is trading below the same and getting support at 3848 and below could see a test of 3801 level, And resistance is now likely to be seen at 3926, a move above could see prices testing 3957.

Trading Ideas:

Crude trading range is 3801-3957.

Crude ended higher on fears that growing citizen protests could engulf oil producers in Middle East

Crude oil looks to get resistance at 3928 and support is seen at 3860 level.

China’s annual oil refining capacity rose by 30 million metric tons to 512 million tons last year.