Bespoke's Commodity Snapshot
Tuesday, November 10, 2009 at 06:10AM Below we provide our trading range charts of ten popular commodities. The green shading represents between two standard deviations above and below the commodity's 50-day moving average. As shown, oil has been trading at the top of its trading range for a few weeks now, and its uptrend remains intact. Natural gas has also made a nice move over the past couple of months, but it has struggled to make the next leg up over the past few weeks.
As investors know, gold is currently the commodity of the day, and as shown in its chart, it is currently trading right at overbought territory. Silver and platinum have rallied along with gold, but they don't quite have the relationship with the dollar that gold has, so investors haven't plowed into them as much. Corn, wheat, orange juice, and coffee have also all done well recently.
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