Crude oil fell in its steepest loss in three months as the dollar strengthened and oil markets awaited inventory reports expected to show rising U.S. crude and fuel stocks. The U.S. Coast Guard said the oil slick had not yet disrupted shipping and operations at the key Louisiana Offshore Oil Port were normal. Now support for the crude is seen at 3687 and below could see a test of 3639. Resistance is now likely to be seen at 3817, a move above could see prices testing 3899.

Trading Ideas:

Crude trading range is 3639-3899.

Crude oil fell as the dollar strengthened and oil markets awaited inventory reports

Support for the crude is at 3718 and resistance is at 3754.

Today crude oil inventories: Exp: 0.6M Prev: 1.9M

SELL CRUDE MAY @ 3730-3740 SL 3762 TGT 3724-3708-3688.MCX