Below is an updated look at our trading range charts for ten major commodities. In each chart, the green shading represents between two standard deviations above and below the commodity's 50-day moving average. Moves to the top of or above the green shading are considered overbought, while moves to the bottom of or below the green shading are considered oversold.
Of the ten commodities shown, natural gas is surprisingly in the strongest uptrend right now. We can't remember the last time this has been the case. Aside from coffee, which is in a downtrend, the rest of the commodities highlighted are in sideways trading patterns and neither overbought nor oversold.
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