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Global Commodity Technical Analysis Report

Commodities Market Rally Resume, One Commodity Tested Support Level – US Coffee

May 22, 2024

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

Global Commodity Market Wrap-Up

Last week, metal commodity prices surged upwards, attracting considerable buying interest. Gold particularly showed strength, posting a notable gain of 0.36%. Silver followed suit, experiencing a robust increase of 8.12%. Among base metals, copper saw a robust rise of 5.76%, while zinc maintained its positive momentum, gaining by 2.04%. Lead also joined the gainers, with a notable increase of 2.20%, contributing to the overall bullish trend in the market.

Natural Gas prices continued their upward trajectory, posting a notable gain of 12.28% last week. This recovery marks a significant turnaround from the previous week's performance, reflecting improved market sentiment and demand dynamics. On the other hand, Crude Oil prices experienced a modest increase of 2.24%, indicating some stability after the previous week's decline. However, US Sugar saw a loss of -6.06%, contributing to the negative momentum in agricultural commodities.

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