While the speculative nature of the stock market rally is now being questioned due to its apparent disregard for underlying economic factors, the impact of the recovery process in the energy market is becoming increasingly more pronounced. The price of crude oil, in particular, has registered a remarkable, bullish run since late-April, when it plummeted below $0 per barrel for the first time on record.

Since our previous analysis of platinum, the commodity's price action has depreciated by more than 100 dollars per troy ounce, in congruence with our projections. A new downtrend has evolved within the rough boundaries of a descending channel, which represents a major retracement from the previous bullish trend. [...]

The price of gold behaved exactly as per our projections from our last analysis of the precious commodity's price action. It consolidated in range while having a last-ditch attempt at continuing the bullish run's establishment. The bullish run itself was initiated in the wake of the coronavirus crisis as more and more investors internationally were seeking to hedge their risks from the uncertainties of the [...]

The energy market appears to have finally stabilised following the historic collapse that took place just a little over a month ago. The price of crude oil tumbled to negative rates in late-April because of several contributing factors. At that time, the disagreements between the member-states of OPEC+ concerning production output coupled with the height of the coronavirus crisis threw the energy market into disarray. [...]

Platinum is one of the most-traded assets in the commodities market, which makes it one of the primary gauges for the overall stability of the broader market. Its price action in the wake of the coronavirus crash could be quite telling of the underlying processes currently taking place in the commodities market, which is why it deserves close attention. [...]

Recently it was announced that Warren Buffett has decided to sell nearly 90 per cent of his Goldman Sachs shares amidst rising coronavirus concerns and prevailing uncertainty in the stock market. The sweeping turmoil in the market has drastically changed the top investor's outlook on the intrinsic value of assets after being jolted by these pandemic developments, and he appears to be looking for a new safe-haven harbour to invest into.

The WTI tumbled to nearly -$40 per barrel when the May futures contracts expired in late April, but has subsequently managed to bounce back to around $25 per barrel. Following this momentary 'stabilisation', the price of crude has started to consolidate within the boundaries of a narrow range, as investors wait to see whether global demand would pick up now that more and more states are working towards gradually reopening their economies. [...]

The price of gold has skyrocketed over the last several months, as a direct consequence of the bolstered demand for the precious metal. Gold was already finding itself in a bullish market prior to the global outbreak of the novel coronavirus, as we pointed out in our previous analysis on the commodity, and the escalation of the situation only bolstered the prevailing bullish sentiment in the market. [...]

Over the past several weeks, gold, which is arguably the most popular safe-haven asset in the world, has undergone through a remarkable surge in volatility due to the underlying changes in demand for the precious commodity. Its price has risen in line with the exponentially increasing uncertainty from the coronavirus pandemic, which continues to plague the global capital markets. [...]

Coffee futures are currently trading at the lower end of a major bearish trend, which prompts some market analysts to expect the underlying market sentiment to change soon. The price action has already broken out above a few key resistance levels, which some traders perceive as early indications suggesting the increasing bullish commitment in the market. [...]