Crude prices ended higher as the euro and equities markets rallied after debt auctions in Europe bolstered investor confidence in global economic recovery. Buying was also spurred by weekly oil inventory forecasts that called for a third straight week of domestic crude stock drawdown.  Now support for the crude is seen at 3511 and below could see a test of 3467. Resistance is now likely to be seen at 3584, a move above could see prices testing 3613.

Trading Ideas:

Crude trading range is 3467-3613.
Crude ended higher supported by an optimistic outlook for global growth
Crude oil is taking support at 3532 and resistance at 3584 level
Today crude oil inventories: Exp: -1.5M Prev: -1.8M
SELL CRUDE @ 3560 SL 3592 TGT 3538-3516-3486.MCX (STBT)