Bespoke's Commodity Snapshot
Below we provide our trading range charts for ten major commodities. For each commodity shown, the green shading represents between two standard deviations above and below its 50-day moving average. Moves to the top of or above the green shading are considered overbought, while moves to the bottom of or below the green shading are considered oversold.
As shown, oil had been trending lower right at the bottom of its range for months, but it looks to have found a bottom recently and has just moved back into the middle of its range. Natural gas was in a similar downtrend in the middle part of the year, but after forming a nice base early in the fourth quarter, it has shot up into overbought territory over the last couple of weeks....MORE
