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 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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