Below we highlight the year-to-date change for ten key commodities. As shown, orange juice has gotten off to a nice start (+13.15%), while natural gas has once again resumed its seemingly perpetual decline (-13.75%). Platinum is the second best performing commodity shown with a gain of 5.34%, followed by gold at +1.59%, and oil at +0.34%. While gold and platinum are up in 2010, silver is down 2.69%.
Below we provide our trading range charts for the ten commodities highlighted above. For each chart, the green area represents between 2 standard deviations above and below the commodity's 50-day moving average. As shown, oil has been trading sideways between about $85 and $70 for a few months now, and it is currently closer to overbought levels than oversold levels. Natural Gas is once again in extreme oversold territory, and the same goes for coffee. After reaching oversold territory, gold, silver, copper, wheat, and corn have all seen nice bounces....MORE
Friday, February 26, 2010
"Bespoke's Commodity Snapshot; Year-to-Date Change"
From Bespoke Investment Group (we love their simple little charts and graphs):