Below we provide our trading range charts for ten major commodities. In each chart, the green shading represents between two standard deviations above and below the commodity's 50-day moving average. Moves to the top of or above the green shading are considered overbought, while moves to the bottom of or below the green shading are considered oversold.
As shown, oil has moved up to the top of its range over the last two months after trading in a downtrend from April through September. Natural gas, on the other hand, continues to trend lower.
Gold has regained its footing after its late summer swoon and is now trading closer to the top of its range than the bottom. Silver and platinum have yet to recover from their summer breakdowns.
Corn, wheat, copper and coffee are all in long-term downtrends, while orange juice has basically been trading sideways for the last year. Click to enlarge: