Bespoke's Commodity Snapshot (10/13/08)

After looking at equity sectors earlier, below we highlight our trading range charts for ten major commodities.  The green shading represents two standard deviations above and below the commodity's 50-day moving average. 

Currently, the only commodity that isn't trading at or below oversold territory is gold.  However, with the global economic turmoil that has occurred recently, it's surprising and somewhat telling that gold isn't trading well into overbought territory.  The fact that gold and other "flight to safety" assets have failed to make significant moves indicates that margin calls and deleveraging are occurring on a massive scale.

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