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Global Commodity Technical Analysis Report

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

Aug 20, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market showed a clear positive trend. Gold exhibited resilience with a modest gain of 2.61%, while silver saw a notable increase of 4.57%. Base metals experienced mixed results: copper rose by 2.75%, zinc gained 0.49%, and lead declined slightly by -0.12%. This varied performance contrasts with the previous week's stability, reflecting a shift towards a more bullish sentiment in the metals market.

Last week, Natural Gas prices held steady, with a slight decline of -0.93%. This suggests a shift in market sentiment, likely influenced by changes in supply dynamics or seasonal demand. Crude Oil prices also fell modestly by -0.09%, reflecting a rise in market confidence. In the agricultural sector, US Sugar prices decreased by -1.25%, contributing to the varied performance seen across commodities.

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