Crude edged up and crossed 4100 mark in yesterday's trading session on concern over tightening U.S. crude stocks and frigid temperatures in Europe and the U.S. Northeast. U.S. crude oil inventories fell 5.33 million barrels last week, a third straight weekly decline. now technically market is trading in the range as RSI for 18days is currently indicating 65.43, where as 50DMA is at 3939.1 and crude is trading above the same and getting support at 4081 and below could see a test of 4063 level, And resistance is now likely to be seen at 4118, a move above could see prices testing 4137.

Trading Ideas:

Crude trading range is 4063-4137.

Crude edged up on concern over tightening U.S. crude stocks

Crude looks to test support at 4080 and resistance is seen at 4118.

U.S. crude oil inventories fell 5.33 million barrels last week

SELL CRUDE JAN @ 4100-4118 SL 4142 TGT 4082-4055-4020.MCX