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Global Commodity Technical Analysis Report

Commodities Market Rally Stop, One Commodity Expected Break Resistance Level – US Sugar

Jun 05, 2024

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

Global Commodity Market Wrap-Up

Last week's significant downtrend in metal commodity prices triggered substantial profit booking. While gold showed resilience with a loss of -0.47%, silver saw a nominal decrease of -0.19%. However, base metals experienced negative trends, with copper falling by -2.91% and zinc losing its positive momentum with a decline of -3.02%. Lead's -1.41% drop diverged from the overall bearish trend. This shift, contrasting with the previous week's high, reflects a blend of nervousness, optimism, and investor confidence in the metals market.

Last week, Natural Gas prices continued their upward trajectory, posting a notable gain of 5.67%. This recovery signifies a significant turnaround from the previous week's performance, reflecting improved market sentiment and demand dynamics. Conversely, Crude Oil prices experienced a marginal decrease of -0.65%, indicating some nervousness following the previous week's decline, despite subdued tensions in the global landscape. Additionally, US Sugar saw a modest loss of -0.60%, albeit contributing to the positive momentum in agricultural commodities.

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