Crude prices settled flat on Saturday after falling Friday, as a reduction in fourth-quarter U.S. gross domestic product added to concerns about future oil demand. OPEC output is likely to rise further after the group, seeing oil prices in its comfort zone and expecting demand to recover later this year, shrugged off overproduction by many members at a recent meeting. OPEC stuck to output quotas agreed in December. Now support for the crude is seen at 3625 and below could see a test of 3620. Resistance is now likely to be seen at 3636, a move above could see prices testing 3642.

Trading Ideas:

Crude trading range is 3620-3642.

Crude settled flat on Saturday after falling Friday on downward revision of US GDP

Support for the crude is at 3602 and resistance is at 3648.

OPEC crude output may surge despite quotas

SELL CRUDE APR @ 3640-3650 SL 3689 TGT 3625-3602-3582.MCX