Crude oil ended up after bouncing off an early low as Wall Street headed higher and the euro rebounded against the dollar. Oil came under pressure as China, the world’s fastest- growing energy consumer, reported that record oil imports in February boosted its stockpiles by 5.2 percent from January. Chinese inventories rose to 28.2 million metric tons (206.7 million barrels), according to China Oil, Gas & Petrochemicals. Now support for the crude is seen at 3642 and below could see a test of 3574. Resistance is now likely to be seen at 3749, a move above could see prices testing 3788.

Trading Ideas:

Crude trading range is 3574-3788.

Crude oil ended up as Wall Street headed higher and the euro rebounded against the dollar

Support for the crude is at 3688 and resistance is at 3732.

China‘s oil imports in February boosted its stockpiles by 5.2 percent from January.

SELL CRUDE APR @ 3730-3740 SL 3768 TGT 3712-3695-3672.MCX