US crude has been pressurised due to rising inventories which have swollen by 22 million barrels over the past four weeks. We expect Crude oil prices to remain in range as high inventories and expectations of tighter monetary policy by China is likely to restrict upside in prices amid optimism for continued easing by Fed and a weaker dollar.

For the coming week 5748/5500 will act as major supports levels whereas 6070/6210 will act as major resistance in MCX Crude oil October futures. For the next week, trader can go for sell on higher level strategy, if MCX Crude October future sustain below 5937 levels then it could test the levels 5873/5748.