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

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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