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RY 174.21 0.4845% TD 77.21 -0.3099% SHOP 113.1 0.5155% CNR 157.51 -1.1299% ENB 57.59 0.1565% CP 112.08 -0.5678% BMO 129.49 0.3332% TRI 232.87 0.7921% CNQ 49.045 1.1654% BN 76.23 1.3023% ATD 73.74 -0.6066% CSU 4426.6099 0.3812% BNS 73.69 -0.1896% CM 86.29 0.4657% SU 53.56 0.7714% TRP 65.64 0.845% NGT 78.23 1.1246% WCN 250.66 0.2239% MFC 42.08 -0.1898% BCE 46.14 0.2172%

Global Commodity Technical Analysis Report

Commodities Market Rally Stop, One Commodity Expected Hold Support Level – US Cotton No. 2

Jul 16, 2024

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

Global Commodity Market Wrap-Up

Last week, metal prices maintained their mixed momentum after a period of significant profit-taking. Gold demonstrated resilience, achieving a gain of 0.96%, while silver declined by -1.66%. Base metals followed this down trend, with copper down by -0.79% and zinc by -2.20%. Lead, however, diverged slightly from this pattern with a minor decrease of -1.86%. This varied movement contrasts with the previous week's stable prices, suggesting bullish momentum and highlighting investor confidence and optimism in the metals market.

Last week, Natural Gas prices saw a notable downturn, marking a significant loss of -0.81% from their recent upward trend. This decline reflects a shift in market sentiment, possibly influenced by adjustments in supply dynamics or seasonal demand factors. In contrast, Crude Oil prices also decreased significantly by -1.51%, indicating evolving market confidence. Additionally, US Sugar experienced a minor decline of -0.84%, contributing to negative momentum in agricultural commodities.

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