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Global Commodity Technical Analysis Report

Decline in Commodities Market Rally, One Commodity Expected to Hold Resistance Level – Nickel

Oct 14, 2024

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

Global Commodity Market Wrap-Up

Last week, the metals market faced a downward trend. Gold showed some resilience, managing a slight increase of 0.32%, while silver saw a notable decline of 1.97%. Base metals also lost momentum, with copper falling by 1.63% and the lead decreasing by 2.82%. Zinc also experienced a loss, down by 0.36%. This shift from the previous week’s stability underscores a transition toward a more bearish market sentiment.

Last week, natural gas prices saw a significant decline of 7.78%, influenced by supply dynamics and seasonal trends. In contrast, crude oil prices rose by 1.59%, reflecting strong market confidence. Meanwhile, U.S. sugar prices in the agricultural sector fell by 3.35%, underscoring a bearish trend across agricultural commodities.

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