Crude oil ended with losses as weak economic data from the United States sounded a note of caution on growth prospects in the world's largest oil consumer. Oil prices came under pressure after the Commerce Department said U. S. gross domestic product expanded by 2.5% in the three months to March, missing expectations for growth of 3.0%.In the week ahead, oil traders will be focusing on Friday's data on U. S. nonfarm payrolls, as investors attempt to gauge the strength of the economic recovery. Oil traders have long been taking cues from the monthly jobs report, the most-closely followed indicator of U. S. employment, because it offers insight into the economic health of the world's biggest crude-oil consumer.  Oil has been supported by a tightening of global inventories over the past two months, according to a report from the U. S. Energy Information Administration, as well as by ongoing tensions in the Middle East. The U. S. economy grew at a 2.5 percent annual rate in the first quarter, less than the 3.0 percent that economists had forecast, fueling fears it could struggle to cope with deep government spending cuts and higher taxes. The Commodities Futures Trading Commission (CFTC) said Friday that money managers raised their net long U. S. crude futures and options positions in the week to April 23. Now technically market is trading in the range as RSI for 18days is currently indicating 52.7, where as 50DMA is at 5087.44 and crude is trading below the same and getting support at 5063 and below could see a test of 5054 level, And resistance is now likely to be seen at 5080, a move above could see prices testing 5088.

Trading Ideas:

Crude trading range for the day is 5054-5088.

Crude oil dropped as weak economic data from US sounded a note of caution on growth prospects in the world's largest oil consumer.

Oil has been supported by a tightening of global inventories over the past two months, according to reports from EIA

U. S. gross domestic product rose at a 2.5% annual rate in the first quarter of 2013, the Commerce Department said