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

Decline in Commodities Market Rally, One Commodity Expected to Hold Support Level – Nickel

Sep 12, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market showed a negative trend. Gold demonstrated some resilience, with a slight decline of -0.12%, while silver saw a more substantial drop of -3.30%. Base metals also experienced declines, with copper and zinc falling by -2.73% and -6.39%, respectively. Lead, however, was hit harder, registering a significant drop of -4.84%. This varied performance marks a stark contrast to the previous week's stability, indicating a shift towards more bearish sentiment in the market.

Last week, natural gas prices experienced a notable increase of 3.96%, indicating a shift in market sentiment that could be attributed to changes in supply dynamics or seasonal demand fluctuations. In contrast, crude oil prices fell significantly by 7.80%, reflecting a decline in market confidence. Meanwhile, in the agricultural sector, U.S. sugar prices dropped by 2.43%, adding to the mixed performance observed across various commodities.

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