Crude oil falls on Euro debt crisis

Oil recovered Saturday after prices fell Friday on concern that the European debt situation and the crisis in Japan will curb fuel demand.
Oil slipped as EU leaders acceded to German demands to make smaller upfront payments for the support fund.
Libya’s crude exports may be curbed for months because of sanctions and damage to production facilities, the International Energy Agency said.
Now technically market is trading in the range as RSI for 18days is currently indicating 58.47, where as 50DMA is at 4505.78 and crude is trading above the same and getting support at 4737 and below could see a test of 4732 level, And resistance is now likely to be seen at 4746, a move above could see prices testing 4750.
Trading Ideas:
Crude trading range is 4732-4750.
Oil recovered Saturday after prices fell Friday on concern about European debt
Crude looks to test support at 4715 and resistance is seen at 4772.
Libya’s crude exports may be curbed for months because of sanctions and damage to production facilities.

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Crude-oil-falls-on-Euro-debt-crisis-12231.html)