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Global Commodity Technical Analysis Report

Commodities Market Witnessed Recovery Rally, One Commodity Expected to Hold Support Level – Natural Gas

Sep 23, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market showcased a clear positive trend. Gold displayed resilience with a modest gain of 1.38%, while silver experienced a notable rise of 1.41%. Base metals also performed strongly, with copper increasing by 3.37% and lead surging by 4.34%, though zinc saw a slight decline of -1.05%. Overall, this marked contrast to the prior week’s stability highlights a shift toward more bullish market sentiment.

Last week, natural gas prices rebounded and gained strong momentum, surging by 5.02%, likely due to supply changes or seasonal factors. Crude oil prices also increased by 4.80%, reflecting growing market confidence. In contrast, U.S. sugar prices in the agricultural sector rose significantly by 17.16%, contributing to a positive trend in agricultural commodities amid the varied performance across different sectors.

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