Commodity ETFs Overbought; Gold Least So

Below we highlight our list of commodity ETFs.  As shown, all of the ETFs are currently well above their 50-day moving averages and up over the last five days.  The ETFs become overbought when they move more than one standard deviation above their 50-day moving averages. 

DBA, an agriculture ETF, is currently the most overbought at 10.09% above the top of its historical trading range.  DBA is followed by the silver ETFs (SLV and DBS) and natural gas (UNG).  While these ETFs are in strong uptrends, their current price levels suggest that a short-term pullback is probably in the cards.

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