Crude Oil look to gain after last weeks weakness and can cross $90 as supportt from news that a leak shut an Alaskan pipeline that carries 12 percent of U.S. crude output. Oil futures in New York jumped as much as 2.2 percent to $89.98 a barrel in the early hours, advancing for the first time in three days. The leak, which has been contained, was thought to be located in an underground section of piping encased in concrete at Pump Station 1, producers have been limited to 5 percent of normal output. Now technically market is trading in the range as RSI for 18days is currently indicating 52.65, where as 50DMA is at 4004.64 and crude is trading above the same and getting support at 4088 and below could see a test of 4077 level, And resistance is now likely to be seen at 4107, a move above could see prices testing 4115.

Trading Ideas:

Crude trading range is 4077-4115.

Oil surged towards $90 after a leak shut an Alaskan pipeline that carries 12% of output.

Sharply drop in net long crude futures positions last week from a record level in the previous week

Crude is getting resistance at 4115 a break can test 4145 level.

BUY CRUDE JAN ABV 4048 SL 4028 TGT 4065-4090.MCX

Crude $ is Trading at : 89.15$