RY 168.02 -0.2138% TD 84.54 0.583% SHOP 98.44 1.6522% CNR 161.44 -0.4686% ENB 55.37 0.7093% CP 117.35 -0.4074% BMO 116.29 0.5969% TRI 234.8 -0.5% CNQ 43.4 -2.0316% BN 67.06 0.8573% ATD 75.0 -1.1467% CSU 4286.48 0.3286% BNS 70.72 0.6834% CM 83.49 0.9675% SU 49.53 0.4462% TRP 63.27 1.1187% NGT 73.0 1.5299% WCN 252.39 -0.095% MFC 38.15 0.58% BCE 48.11 0.4594%

Global Commodity Technical Analysis Report

Commodities Market Witnessed Recovery Rally, One Commodity Expected to Hold Support Level – Crude Oil

Aug 13, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market exhibited a pronounced mixed trend. Gold demonstrated resilience with a modest gain of 0.45%, whereas silver declined by -2.83%. Base metals saw varied movements: copper fell by -2.21%, zinc rose by 3.43%, and lead increased by 0.65%. This diverse performance marks a sharp contrast to the stability of the previous week, indicating a shift towards more bullish sentiment.

Last week, Natural Gas prices rebounded sharply, achieving a robust gain of 8.95%. This recovery indicates a change in market sentiment, likely due to shifts in supply dynamics or seasonal demand factors. In contrast, Crude Oil prices also saw a significant rise of 4.16%, reflecting improved market confidence. Additionally, US Sugar experienced an increase of 2.10%, which contributed to the varied performance in agricultural commodities.

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