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Below we highlight our trading range charts of 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 zone are considered significanly overbought or oversold.

The big commodity move so far this week has been in the silver market, where the metal has fallen from $50 to $40 over the past three days. As shown in its trading range chart, silver is still closer to the top end of its range than the bottom, which highlights just how overbought silver had gotten.

Gold hasn't gotten hit nearly as hard as silver, and it is still trading above the top end of its range. Oil has sold off a bit, but it remains close to the top of its range as well.

And don't look now, but natural gas has moved into overbought territory. That may be the most surprising move of all!

Source: Bespoke's Commodity Snapshot