RY 172.7 -0.1792% SHOP 152.38 -3.7762% TD 74.49 -0.4144% ENB 58.66 0.2906% BN 80.21 0.2124% TRI 235.76 -0.7034% CNQ 42.27 -1.3305% CP 102.81 -2.4851% CNR 145.02 -0.9426% BMO 139.15 0.5855% BNS 77.045 -0.149% CSU 4497.2998 0.6756% CM 92.23 -0.335% MFC 43.28 0.8858% ATD 79.0 -1.1882% NGT 53.35 -1.8038% TRP 65.26 0.215% SU 49.61 -1.411% WCN 251.65 -0.2181% L 191.14 0.1205%

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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