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 50-day moving average. Moves above or below the green zone are considered overbought or oversold.
As shown, oil and copper both moved into oversold territory over the past couple of weeks as global equity markets pulled back. Conversely, gold and silver moved higher to overbought territory. Platinum remains in an uptrend and is currently right in the middle of its trading range. Natural gas, corn, and wheat remain in long-term downtrends, while coffee and orange juice have been moving sideways lately.
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