US crude oil futures have moved higher on Wednesday after sliding 2.4% thanks to supportive US inventories report released by American Petroleum Institute that witnessed a fall of 695,000 barrels last week.We expect crude oil prices to trade with a sideways bias on the back of cut in demand forecast by EIA, weak global market sentiments along with strength in the DX. While on the other hand, expectations of decline in the US crude oil inventories will provide support to the prices
Sell Crude oil (MCX): at 4750 level, Place a stop loss of 4799 & Set target at 4650 level.