Sell MCX Gold, Silver; buy Copper, Crude: Dani Commodities

Crude oil futures are trading above $85 a barrel in Asia today tracking the gains in Asian markets as Greece's pro-bailout party appears likely to secure a narrow election win, making Greece less likely to leave the euro zone for now.

On the New York Mercantile Exchange, light sweet crude futures for delivery in August are trading up nearly 1% at $84 per barrel. On Friday it settled up 0.1%, at $84.03 a barrel. A week ago, it settled at $84.10.

Oil was boosted by expectations that global central banks are preparing for coordinated action to provide liquidity if necessary following weekend elections in Greece. The Federal Reserve and other central banks from the Group of 20 nations are reportedly getting ready to provide stimulus, amid mounting concern that Greece might leave the euro zone following the result of elections this weekend. European Central Bank President Mario Draghi reportedly said on Friday that the ECB will continue to supply liquidity to solvent banks where needed.

Gains were limited by a string of weaker-than-expected U.S. economic data, which added to concerns over a slowdown in oil demand from the world's top energy consumer.

MCX GOLD
International: Major Support at USD1500. Bullish till USD1650.
Domestic: Sell below 29970, Stop loss 30040, Target 29900.

MCX SILVER
International: Major Support at USD26. Bullish above USD28.
Domestic: Sell below 54300, Stop loss 54500, Target 54100.

MCX COPPER
International: Major Resisatnce at LME 9600. Bullish till LME 8500.
Domestic: Buy at 418, Stop loss 416, Target 420.

MCX LEAD
Domestic: Buy above 107, Stop loss 106.50, Target 107.50.

MCX ZINC
Domestic: Buy above 105.70, Stop loss 105.30, Target 106.10.

MCX NICKEL
International: Bullish above 17,300 (LME).
Domestic: Buy above 941, Stop loss 936, Target 946.

MCX CRUDE OIL
International: Major Support for WTI at USD78. Bullish above USD 92.
Domestic: Buy above 4710, Stop loss 4680, Target 4740.

MCX NATURAL GAS
Domestic: Buy on dips at 138, Stop loss 136, Target 140.

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