Crude oil ended down as the dollar strengthened and amid concerns about economic recovery and fears of credit tightening in China that might curb that country's growth. OPEC is unlikely to change its output ceiling when it meets on Wednesday, a senior Gulf OPEC delegate told. OPEC indications have been that there is no need to change output with prices in the $70 to $80 range, but soft demand is prompting calls to boost compliance. Now support for the crude is seen at 3608 and below could see a test of 3572. Resistance is now likely to be seen at 3694, a move above could see prices testing 3744.

Trading Ideas:

Crude trading range is 3572-3744.

Crude oil ended down as the dollar strengthened and amid concerns about economic recovery

Support for the crude is seen at 3622 and resistance is at 3672.

OPEC is unlikely to change its output ceiling when it meets on Wednesday

SELL CRUDE MAR @ 3640-3650 SL 3678 TGT 3626-3612-3590.MCX