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 this trading range are considered overbought or oversold.
As shown, oil, gold, silver, platinum, and copper are all trading at the top of their trading ranges. Of all the commodities shown, platinum and copper have exhibited the most strength over the last year.
On the other side of the spectrum, natural gas, corn, wheat, and orange juice are all currently at the bottom of their trading ranges. It's interesting to see the current divergences in the commodity asset class. Oil and metals have been doing great recently while agriculture and natural gas have been especially weak.
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