Bespoke's Commodity Snapshot

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

As you'll see, prices have come down across the board in recent days.  Gold, silver, copper, corn, wheat, and coffee are all trading at extreme oversold territory.  For the metals, many are trading at their most oversold levels in at least a year.  Long-term uptrends have now been broken for gold, silver, copper, and coffee.  Energy has held up relatively well recently, with oil and natural gas both trading right in the middle of their trading ranges.  Orange juice is the only commodity that really hasn't struggled a bit.

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