Analytical Reviews of Commodities

Commodities

14:32 (GMT+3)

Copper quotes up 5% since the start of the year

Industrial metals have started 2017 with growth. Copper quotes are up 5% since the start of the year, rising to $5,760 per tonne. Nickel and aluminium have risen 4.5% to $10,480 and $1,750 per tonne respectively. Throughout 2013-2015, the prices for industrial metals stagnated, but in 2016 they grew steadily. Copper, nickel and lead rose 20% last year, with zinc and tin rising by over 50%. From November to December last year there was a small fixation of profits: light metals rebounded downwards.

Commodities

Natalia Milchakova

13:12 (GMT+3)

Price of crude unlikely to rise above $53/bbl

Last week the price of WTI rose 1.7% and reached $50.88/bbl. The expiration date for the futures’ price was October, 24. On October, 19, the price reached its new quarterly high of $51.54/bbl. We forecast that the price is unlikely to fall below the level of $50/bbl unless OPEC’s members again fail to agree at their meeting on November, 30.

Commodities

Natalia Milchakova

16:43 (GMT+3)

Price of crude to depend on OPEC meeting results

Over the previous two weeks, the price of WTI has lost 0.28% and declined to $44.83/bbl. On September 16, the price reached its two-week low of $43.18/bbl. We consider the level of $42.7-43/bbl as a strong support level, while the resistance level is located above $45.5/bbl.

Commodities

Tomasz Wisniewski

15:51 (GMT+3)

Black clouds over black gold

In August, WTI oil wasted the chance to start a new bullish trend. As we can see on the chart, the price was approaching a neck line (51.6 USD/bbl) but the buyers failed to reach it and they did not even get chance to fight for a breakout. What stopped the appreciation was the trend line connecting recent lower highs (upper blue line). That is from the technical side, but we all know that, fundamentally, the situation is not bullish either.

Commodities

Natalia Milchakova

15:24 (GMT+3)

Сrude oil market not ready for growth

Last week the price of WTI lost 2.5% and went down to $44.96/bbl. On September, 13, the price reached its weekly bottom of $44.96/bbl. The resistance level rose to the price of $47.7/bbl, while the price of $44.9/bbl could be considered as a relatively strong support level.