Crude yesterday jumped by almost 5.39% and settled at 4304, with the March contract reaching $94.49 per barrel, the highest for any nearby month since October 2008, as concern grew that violence in Libya could lead to wider supply disruptions from the OPEC country. Libyan leader Muammar Gaddafi fought an increasingly bloody battle to hang on to power on Monday when protests against his 41-year rule struck the capital Tripoli after days of violence in the east. World markets have plenty of oil, top exporter Saudi Arabia said on Monday, as a wave of revolution that has already toppled two presidents washed over OPEC member Libya and drove prices to a 2-½ year-high. Now technically market is trading in the range as RSI for 18days is currently indicating 59.74, where as 50DMA is at 4189.88 and crude is trading above the same and getting support at 4156 and below could see a test of 4008 level, And resistance is now likely to be seen at 4382, a move above could see prices testing 4460. Trading Ideas:

Crude trading range is 4008-4460.

Crude rose as concern grew that violence in Libya could lead to wider supply disruptions.

Crude oil looks to get resistance at 4272 and support is seen at 4334 level.

World markets have plenty of oil as a wave of revolution that has already toppled two presidents

Crude $ is Trading at : 92.69$