US Crude oil prices continued its range bound movement as positive data raised the hopes that Crude Oil prices can move higher. Strong household spending and robust exports kept the U. S. economy on solid ground in the fourth quarter.

Crude oil prices are expected to move lower for the week as stronger dollar internationally and lack of Chinese demand can put the pressure on crude oil prices.

For the coming week 5790/5500 will act as major supports levels whereas 6300/6500 will act as major resistance in MCX Crude oil February futures. For the next week, trader can go for sell on higher level strategy, if MCX Crude February future sustain below 6050 levels then it could test the levels 5940/5790.