Bespoke's Commodity Snapshot

Below we highlight our trading range charts for ten major commodities.  For each commodity, the green shading represents between two standard deviations above and below its 50-day moving average.  Moves above or below the green shading are considered to be overbought or oversold. 

As shown, oil and natural gas are once again moving in the opposite direction of each other.  Oil is currently at the top of its trading range, while natural gas is at the bottom.  Of the three precious metals, platinum held up the best during the most recent downturn.  Both gold and platinum are now trading right in the middle of their ranges, while silver is still closer to the bottom of its range.  Copper has made a nice comeback from extreme oversold levels over the past couple of weeks as well.  Of the other commodities highlighted, corn, wheat, and coffee are all closer to the bottom of their ranges than the top, while orange juice remains in a strong uptrend.