Sent to you by Dominic via Google Reader:
With gold breaking to record highs every day lately, we thought now was as good a time as any to update our commodity snapshot. Below we provide our trading range charts for ten major commodities. In each chart, the green shading represents between two standard deviations above and below the 50-day moving average. Moves above or below the green zone are considered overbought or oversold.
Aside from oil and natural gas, every commodity shown is either at or above the top of its trading range. As shown, gold's recent move has pushed it outside of its range. Moves to similar levels over the last year have been met with pullbacks. Silver and platinum are also just above the top of their trading ranges as well. And if you thought the metals were overbought, check out the charts of corn and orange juice!
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