Crude pulled back in choppy trading and settled down by -0.97% at 4724 after a report showed U. S. February durable goods orders fell against expectations for a small rise. The durable goods number seemed to offset a separate report showing U. S. initial jobless claims fell. Also pressure seen on crude prices ahead of the data on concerns about euro zone debt problems. Traders are also trying to get clue from the Arab nation where fighting in Libya and growing unrest in the Middle East supported concern over oil supply. Now technically market is trading in the range as RSI for 18days is currently indicating 59.04, where as 50DMA is at 4483.54 and crude is trading above the same and getting support at 4689 and below could see a test of 4654 level, And resistance is now likely to be seen at 4778, a move above could see prices testing 4832.

Trading Ideas:

Crude trading range is 4654-4832.

Crude settled weak as traders weighed rising turmoil in the Middle East

Crude looks to test support at 4689 and resistance is seen at 4778.

NATO countries agreed to enforce a no-fly zone in Libya to protect civilians against Gaddafi's forces