PRECIOUS METAL:: MCX Crude oil is trading at 4,163 levels, 0.28% above from its previous close. The black gold is likely to dance on the tunes of Energy Information Administration that disclose the crude oil inventories held by U.S. firms. On 4-hour scale, MCX Crude Oil is trading above the potential demand zone that is placed in a range of 4,091-4,121 levels. The black gold is trading above the magic wand of 89 (High-Low) Simple Moving Average, which signals that an uptrend is intact. RSI is sensing support from 60 levels showing no signs of divergence and oversold. Traders are advised to capitalize every opportunity to ‘Buy on Dips’ for an upside of 4,200 and 4,222 levels.