Crude oil prices rose but pared gains after Greece's bonds were downgraded, cutting into optimism about global economic recovery that had fueled the earlier rise. Oil traders have been eyeing signs U.S. demand is showing better signs of recovery as the summer driving season heats up and distillate use improves. Now support for the crude is seen at 3456 and below could see a test of 3425. Resistance is now likely to be seen at 3526, a move above could see prices testing 3565.

Trading Ideas:

Crude trading range is 3425-3565.

Crude oil prices rose but pared gains after Greece's bonds were downgraded

Crude oil is taking support at 3462 and resistance at 3514 level

Oil traders have been eyeing signs U.S. demand is showing better signs of recovery

BUY CRUDE @ 3500-3510 SL 3480 TGT 3526-3540-3565.MCX