RY 176.57 0.438% SHOP 158.97 0.9526% TD 79.31 0.1515% ENB 61.27 0.1471% BN 84.87 -1.1646% TRI 235.65 1.718% CNQ 46.46 -3.4898% CP 106.585 0.2021% CNR 153.9 0.1627% BMO 134.58 0.3654% BNS 77.82 0.9339% CSU 4727.8198 1.6729% CM 89.33 0.0336% MFC 45.32 0.421% ATD 82.32 -0.8551% NGT 58.47 -0.0513% TRP 68.21 -0.3943% SU 53.98 -1.5861% WCN 268.6 -0.3229% L 186.66 0.1771%

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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