Crude oil ended with the positive node and settled flat at 0.27% up at 4314 but the whole day market moved in the a very wildly in the wide range market yesterday opened at 4311 and shoot up to the day's high on Libya news to the fresh high of 4473 but as the market was trading with a huge volatility and pressure came on profit booking the gains as due to Nymex expiry crude again crashed to the days low at 4252 and finally settled at 4314 on Tuesday, driven by worries of supply disruptions after a citizen revolt in Libya against leader Muammar Gaddafi shut down about 8 percent of its daily oil output. The Libyan leader refused to step down -- keeping oil prices near their 2-1/2-year highs, even though the OPEC and EIA said they would be ready to act if there were any supply disruptions. Now technically market is trading in the range as RSI for 18days is currently indicating 60.43, where as 50DMA is at 4191.82 and crude is trading above the same and getting support at 4220 and below could see a test of 4125 level, And resistance is now likely to be seen at 4441, a move above could see prices testing 4567.

Trading Ideas:

Crude trading range is 4125-4567.

Crude oil ended firm driven by worries of supply disruptions after a citizen revolt in Libya

Crude oil looks to get resistance at 4340 and support is seen at 4280 level.

OPEC and EIA said they would be ready to act if there were any supply disruptions.