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 shading are considered overbought or oversold.
At the moment, everything is overbought except for platinum, corn, and coffee. While these three commodities aren't overbought, however, they are in pretty solid uptrends. Oil, gold, silver, and copper are all trading at 52-week highs as well. With pretty much everything extended to the upside at the moment, a short-term pullback wouldn't be shocking.
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