Bespoke's Commodity Snapshot (7/27/09)

Below we provide our trading range charts for ten major commodities. The green shading represents between 2 standard deviations above and below the commodity's 50-day moving average. Moves outside of the green zone are considered overbought or oversold.

The only commodity currently overbought is copper. Oil, natural gas, gold, silver, and platinum are all right in the middle of their trading ranges. Corn and wheat have been tanking lately and are getting close to the bottom of their normal trading range. And coffee and orange juice are finally seeing some reversion to the mean after seeing some short-term divergence a couple of weeks ago.

Comments

[RiskReturnOptimizer]

DBA is oversold ... next move probably coincides with drop in US dollar (UUP).

2009 Jul 27 12:56 PM

[ScroogeMcduck]

Nat gas looks ripe for picking

2009 Jul 27 01:04 PM

[Greenville]

Corn looks to be a good buy right now. It was a great growing season for many agric commodities, the questions is will this hold for the winter and spring/summer of next year.

2009 Jul 27 01:10 PM