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Global Commodity Technical Analysis Report

Commodities Market Witnessed Rally, One Commodity Expected to Reverse from its Support Level – US Sugar No. 11

Apr 10, 2024

Global Commodity Market Wrap-Up

Last week, metal commodities prices witnessed an extended rally, and closed in positive gains. Gold prices traded in a positive range and settled with a weekly gain of ~4.78%. Moreover, Silver also rallied and closed at ~10.38% and other base metals also saw a rally. Base metals ended in green last week. Copper and Zinc prices witnessed a weekly gain of ~5.89% and ~8.16% and Lead closed in positive of ~3.31%.

On the Energy front, Natural Gas prices trading in range bound zone due to weaker demand and settled at a weekly gain of ~1.25%. Moreover, Crude Oil prices also recovered from the lower level and settled with a weekly gain of ~4.25%. Meanwhile, agricultural commodities prices traded negatively and closed in the negative zone and US Sugar also faced resistance and closed in negative of ~2.35%.

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