Crude oil ended steady ahead of the release of U. S energy supply data, showing continued upward momentum from a recent string of strong economic data. The U. S. Energy Information Administration cut its 2010 world oil demand growth forecast by 10,000 barrels per day from its previous estimate to 1.46 million bpd.

Now support for the crude is seen at 3830 and below could see a test of 3816. Resistance is now likely to be seen at 3864, a move above could see prices testing 3884.

Trading Ideas:

Crude trading range is 3816-3884.

Crude oil ended steady ahead of the release of U. S energy supply data

Support for the crude is at 3830 and resistance is at 3864.

Today crude oil inventories- Exp: 1.0M Prev: 2.9M

BUY CRUDE APR ABV 3854 SL 3820 TGT 3868-3890-3912. MCX