Crude oil prices ended down weighed down by concerns that a slowing economic recovery could hurt energy demand. Trading was thin due to the Independence Day holiday in the US.  Oil prices slumped nearly 9% over the past six sessions, after Hurricane Alex missed refineries on the Gulf of Mexico coast. Now support for the crude is seen at 3359 and below could see a test of 3340. Resistance is now likely to be seen at 3406, a move above could see prices testing 3434.

Trading Ideas:

Crude trading range is 3340-3434.

Crude ended lower on concerns that slowing economic recovery could hurt energy demand

Crude oil is taking support at 3368 and resistance at 3420 level

Oil prices slumped nearly 9% over  past six sessions after Hurricane Alex missed refineries

SELL CRUDE JULY @ 3380-3390 SL 3412 TGT 3365-3340.MCX