Bespoke's Commodity Snapshot

Below we highlight the year-to-date performance of ten major commodities.  While gold is currently grabbing the headlines, it's actually up the least out of the seven major commodities that are in the black this year.  As shown, Copper is up the most with a gain of 126.7%.  Orange juice is up the second most with a gain of 83.3%, while oil, silver, and platinum are all up more than 50%.  Coffee and gold are both up about 30%.  Three commodities are down in price in 2009 -- wheat (-20.27%), corn (-17%), and natural gas (-11.6%).

Below we provide our trading range charts for the ten commodities listed above.  The green shading represents between two standard deviations above and below the commodity's 50-day moving average, and moves outside of the green zone are considered overbought or oversold. 

Currently, oil, natural gas, corn, and wheat are trading in neutral territory.  The precious metals have all seen sharp pullbacks over the past couple of days, but they are still closer to the top of their ranges than the bottom because of the sharp increases they've seen in recent months.  For gold to reach oversold territory, it would need to drop nearly $200/ounce.  Finally, the breakfast drink commodities -- coffee and orange juice -- are both in strong uptrends and are trading right at overbought territory at the moment.

 

Comments

[dj]

Go back to one of my old post,told ya copper an NG was the play...ya was a gold back in the 70"s...never get burned 2x...the bond market will start to roll over about 300 days from now...then you will see gold drop like a rock.

[Don Draper]

It's nice to know where you can find an economic hedge in commodities in these troubled times.

[Rajiv Salarpuria]

nice insight

[Rob]

Where can I go to generate graphs like these at will?