Crude oil eased today in the morning session, but held above the $91 a barrel mark on optimism the gathering momentum in the global economic recovery would drive demand growth and send prices into triple-digit territory later this year. Warmer weather forecasts after the blizzard that pummeled the U.S. Northeast have cast doubts on sustained domestic demand for heating fuel, and could cap gains in oil prices. Iran's OPEC governor said on Friday the global demand for OPEC oil will increase in 2011, oil ministry website SHANA reported. Now technically market is trading in the range as RSI for 18days is currently indicating 55.62, where as 50DMA is at 3986.86 and crude is trading above the same and getting support at 4082 and below could see a test of 4077 level, And resistance is now likely to be seen at 4096, a move above could see prices testing 4105.

Trading Ideas:

Crude trading range is 4077-4105.

Crude still above the $91 on optimism the gathering momentum in the global economic recovery.

Crude looks to test support at 4056 and resistance is seen at 4105.

Iran's OPEC governor said on Friday the global demand for OPEC oil will increase in 2011

SELL CRUDE JAN BELOW 4085 SL 4105 TGT 4060-4025.MCX

Crude $ is Trading at : 91.58$