Commodities Market Witnessed Profit Booking, One Commodity Expected to Reverse from its Support Level – Nickel

Global Commodity Technical Analysis Report

Commodities Market Witnessed Profit Booking, One Commodity Expected to Reverse from its Support Level – Nickel

27 March 2024

| Read Time :5:00 Mins

Global Commodity Market Wrap-Up

Last week, metal commodities prices witnessed profit booking in higher levels, loosing majority of gains and closed in negative. Gold prices trading in positive range facing resistance in higher levels and settled with a weekly loss of ~0.07%. Moreover, Silver also lost some gains and close of ~2.12% and other base metals faced profit booking. Base metals ended in negative last week. Copper and Zinc prices witnessed a weekly loss of ~2.79% and ~2.51% and Lead closed in negative of ~4.74%.

On the Energy front, Natural Gas prices trading in range bound zone due to weaker demand and settled at a weekly gain of ~1.29%. Moreover, Crude Oil prices also recovered from lower level and settled with a weekly gain of ~0.06%. Meanwhile, agricultural commodities prices traded mixed and closed in negative zone and US Sugar also facing resistance and in negative of ~1.22%.

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Global Commodity Technical Analysis Report