Crude oil pared its recent losses as US traders returned to their desks following the long holiday weekend. A stronger dollar and renewed demand concerns amid warmer weather failed to stop oil from gaining ground. Oil inventories remain high enough to cope with any rise in winter fuel use, OPEC said in a monthly report, which trimmed estimated 2010 demand for OPEC oil.

OPEC left unchanged its forecast for 2010 global oil demand growth. Now support for the crude is seen at 3569 and below could see a test of 3529. Resistance is now likely to be seen at 3634, a move above could see prices testing 3659.

Trading Ideas:

Crude trading range is 3560-3660.

Crude ended firm even stronger dollar and demand concerns of warmer weather failed to stop gains.

Oil inventories remain high enough to cope with any rise in winter fuel use - OPEC

Today there is no inventory will release tomorrow due to holiday on Monday

BUY CRUDE FEB @ 3605-3615 SL 3578 TGT 3628-3645-3665.MCX