Oil fell as traders took profits from a rally to a seven-month high over $70 a barrel after U.S. employment data showed a slower pace of job losses. Oil prices seesawed in choppy trade.
Breach of the $70-a-barrel mark, the highest level since the first week of November, brought out profit-takers who pushed prices down. Now support for the crude is seen at 3235 and below could see a test of 3230. Resistance is now likely to be seen at 3246, a move above could see prices testing 3252.
Trading Ideas:
Crude trading range is 3120-3360.
Oil fell as traders took profits from a rally.
MCX Crude June sell below 3236 SL 3254 TGT 3224-3210-3188.
Buy can be seen near to 3180 level and now immediate range is 65-72$.
