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Global Commodity Technical Analysis Report

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

Oct 21, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market exhibited a mixed performance. Gold demonstrated resilience with a 2.01% increase, while silver experienced a notable surge of 4.66%. In contrast, base metals lost ground, with copper declining by 1.68, lead decreasing by 0.37%, and zinc falling by 1.89%. This shift from the previous week’s stability indicates a move toward a more neutral market sentiment.

Last week, natural gas prices experienced a substantial decline of 9.26%, driven by supply dynamics and seasonal trends. Similarly, crude oil prices faced pressure, dropping by 8.39% amid weak market confidence. In the agricultural sector, U.S. sugar prices fell by 0.27%, highlighting a broader bearish trend across agricultural commodities.

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