Crude oil prices settled lower hit by fresh concerns over the economic health of Greece and Portugal and worries over expected further gains in already-high oil inventories.  Sliding crude prices were dealt a sharp blow when the dollar gained against the euro on renewed concerns over euro-zone debt issues. Now support for the crude is seen at 3654 and below could see a test of 3617. Resistance is now likely to be seen at 3739, a move above could see prices testing 3787.

Trading Ideas:

Crude trading range is 3617-3787.

Crude oil settled lower hit by fresh concerns over economic health of Greece and Portugal

Support for the crude is at 3674 and resistance is at 3722.

Today crude oil inventories: Exp: 0.9M Prev: 1.9M

SELL CRUDE MAY BELOW 3685 SL 3712 TGT 3656-3620.MCX