Oil prices fell as the dollar strengthened and threat of supply disruption from a tropical storm slightly eased. The dollar firmed against the euro, exerting further downward pressure on oil prices.  Alex, the first storm of the 2010 Atlantic hurricane season, is currently forecast not to cause damage to refineries on the Gulf of Mexico. Now support for the crude is seen at 3602 and below could see a test of 3579. Resistance is now likely to be seen at 3649, a move above could see prices testing 3673.

Trading Ideas:

Crude trading range is 3579-3673.

Oil slides as supply threat from storm Alex eases

Crude oil is taking support at 3600 and resistance at 3654 level

Alex is currently forecast not to cause damage to refineries on the Gulf of Mexico

SELL CRUDE JULY BELOW 3618 SL 3645 TGT 3602-3580-3565. MCX