Monday, January 7, 2008

Overbought Commodities

From Bespoke Investment Group:
...As shown, oil's most recent rally to $100 has put it in overbought territory. Gold's rally has been even stronger than oil's, and the metal is currently trading above its trading range. Silver, platinum, corn and coffee are also trading in overbought territory, while copper, orange juice and natural gas are trading in the neutral zone. While commodities in general are in a solid uptrend, it wouldn't be surprising to see some of them stall in the short term.
Go to BIG for the charts.