Commodity Market Review: Energy Continues to Climb with Gasoline Up 11.21%

Commodity Market Review:

Summary:

  • Gasoline (CME_RB1) and Crude Oil (CME_CL1) are both on the rise with increases of 21% and 6.16% respectively over the past 14 days.
  • Platinum and Palladium Dominate the Commodity Exchanges.
  • These commodities have seen a remarkable rise over the past few months and do not seem to be slowing down.

Source: Pixabay

Gasoline (CME_RB1) and Crude Oil (CME_CL1) are both on the rise with increases of 11.21% and 6.16% respectively over the past fortnight. S&P Global Platts Analytics released data recently suggesting that expected oil directed rigs are to increase for the week ending February 27. “Oil prices are trading sideways at the moment with fundamentals providing a mixed outlook at the moment,” Phillip Futures’ investment analyst Benjamin Lu said. “Supply side factors are bullish for oil prices, with OPEC producers continuing to reduce output, while the latest data on US oil rig count is also supportive for prices,” he added.

Platinum and Palladium Dominate the Commodity Exchanges

Platinum (^JPLAT) and Palladium (PALL) see a continued increase meaning these strong performing commodities have increased for the entire month of February with a rise of 29.82% and 12.33% respectively.

A complete electric car future is still far off, at least that’s what the market suggests with the strength behind Palladium and Platinum which are precious metals used in the manufacturing of car exhausts.  These commodities have seen a remarkable rise over the past few months and do not seem to be slowing down.

I Know First Successful Commodities Forecast

On 14th February and the 27th January I Know First algorithm issued bullish predictions for commodities for a 14-day and 30-day time horizon respectively. The predictions include Gasoline (CME_RB1) and Platinum (^JPLAT). Over the trading periods from, Gasoline and Platinum rose by 11.21% and 29.82% respectively.

How to interpret this diagram

These bullish Gasoline and Platinum forecasts were sent to the current I Know First subscribers on the 14th February and the 27th January respectively.

To learn how you can become a subscriber today, click here.

Please note-for trading decisions use the most recent forecast.

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