Skip to content
No results found

View more search results

1 2 3 4 5 6 7 8 9 10
Related search: Market Data
Market Data Type of market
See all Market data search results >

Brent crude oil, aluminium and silver prices drop amid demand concerns

​​​Brent crude oil, aluminium and silver prices drop amid demand concerns​ following the US’ weak GDP data release.

Oil Source: Adobe images

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​Brent crude oil price drops further still 

​The Brent crude oil price is on track for its fourth day of declines and looks to hit the $60.00 per barrel mark today. Below it sits the April low at $58.18. 

​Minor resistance can now be found at the mid-April $62.20 low ahead of Wednesday's $63.24 high.  

Brent crude oil daily chart

Brent crude oil daily chart Source: TradingView

​Front month aluminium futures retest key support 

​Front month aluminium futures are falling out of bed and retest their key April support zone at 229.40-to-228.70. Were it to give way on a daily chart closing basis, the September 2024 low at 225.25 would be eyed. 

​Minor resistance may be found at the November 232.60 low. 

Aluminium daily chart

Aluminium daily chart Source: TradingView

​Silver price drops for third straight day 

​The spot silver price seems to have topped out at last week's $33.69 per troy ounce high with it revisiting its 17-to-23 April lows at $32.09. Were a daily chart close below this level to be made, the 11 March low at $31.81 may offer minor support. If not, the 11 February low at $31.25 would be next in line. 

​Minor resistance remains to be seen along the 55-day simple moving average (SMA) at $32.63. 

Spot silver daily chart

Spot silver daily chart Source: TradingView

Markets

Share CFDs

Forex

Indices

Commodities

Other markets

Trading platforms

Web platform

Trading apps

TradingView

MetaTrader 4

ProRealTime

Compare features

Demo

Learn to trade

News and trade ideas

Trading strategy

About

Charges and margins

Premium services

Refer a friend

Marketing partnerships

Corporate accounts

Contact us

New clients: 0800 195 3100 or email sales.en@ig.com

Clients: Help & Support

WhatsApp: Click here to chat to us on our official WhatsApp channel, 10am to 7pm (UTC+10), Monday to Friday

 

IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. IG Group established in London in 1974, and is a constituent of the FTSE 250 index.

 

The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. 71% of retail client accounts lose money when trading CFDs, with this investment provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.

CFD Accounts provided by IG International Limited. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.

IG provides an execution-only service. The information in this site does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

The information on this site is not directed at residents of the United States and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. IG International Limited receives services from other members of the IG Group including IG Markets Limited.