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Global Commodity Technical Analysis Report

Commodities Market Rally Stop, One Commodity Expected Hold Resistance Level – Natural Gas

Jun 13, 2024

Natural Gas
Investment Type
Commodity
Risk Level
Action
Rec. Price (US$)

 Global Commodity Market Wrap-Up

Last week's downward trend in metal prices continued, with significant profit booking observed. Gold remained relatively resilient, showing a minor loss of -0.89%, whereas silver experienced a more pronounced decline of -3.29%. Base metals mirrored this negative trend, with copper dropping by -2.93% and zinc by -7.46%. Notably, lead deviated from this pattern with a decline of -3.68%. This contrasting movement, diverging from the previous week's falling prices, reflects a nuanced blend of nervousness, optimism, and investor confidence in the metals market.

Last week, Natural Gas prices maintained their upward momentum, registering a noteworthy gain of 12.55%. This rebound marks a substantial shift from the previous week, underscoring improved market sentiment and demand dynamics. In contrast, Crude Oil prices recorded a notable increase of 1.97%, signaling growing confidence in the market. Furthermore, US Sugar witnessed a robust gain of 3.83%, bolstering positive momentum in agricultural commodities.

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