Oil, Gold, Wheat, Coffee Trading Well Into Overbought Territory

Includes: DBC, GSG
by: Bespoke Investment Group

"They can hike my gas prices, they can take my bread, they can even take my jewelry, but messing with my coffee? Now they're crossing the line." Below we highlight one year trading range charts of ten major commodities. Most of them are currently trading near the top of their historical ranges, but Oil, Gold, Wheat and now Coffee are trading well into overbought territory.

At the start of the month, we highlighted wheat's sharp rise and then saw constant mention of how it will impact on the consumer. Coffee's recent spike should begin to garner attention as well.

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