RY 169.88 -1.0542% SHOP 144.59 -0.959% TD 77.85 -0.1667% ENB 59.62 -0.5505% BN 78.53 -0.971% TRI 223.92 -0.2495% CNQ 47.03 -0.0213% CP 102.49 -0.5627% CNR 147.77 -0.8787% BMO 131.32 -0.0685% BNS 78.4 0.0255% CSU 4463.7002 0.6222% CM 90.42 0.6344% MFC 44.91 -1.3184% ATD 77.0 -0.7604% NGT 60.01 -0.4149% TRP 68.0 -2.2989% SU 56.965 -0.4282% WCN 260.14 -0.653% L 176.45 0.7135%

Global Commodity Technical Analysis Report

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

Oct 07, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market exhibited a clear upward trend. Gold displayed resilience, experiencing a slight decline of just 0.01%, while silver recorded a significant increase of 1.82%. Base metals also performed robustly, with copper surging by 5.28% and lead soaring by 1.23%. Zinc also posted gains, rising by 2.36%. This marked contrast to the previous week’s stability highlights a shift toward a more bullish market sentiment.

Last week, natural gas prices remained stable a slight increase of 0.03%, likely driven by supply dynamics and seasonal factors. In contrast, crude oil prices saw a robust rise of 8.88%, indicating strong market confidence. Additionally, U.S. sugar prices in the agricultural sector rose by 1.63%, contributing to a mixed performance across agricultural commodities, as results varied among different sectors.

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