Below we highlight historical trading area charts of ten major commodities. The green area represents two standard deviations above and below the commodity's 50-day moving average and moves to the top or bottom of this area are considered overbought or oversold. Oil, corn and coffee are currently trading in the middle of their historical trading ranges, while natural gas, silver, platinum, copper and orange juice are trading at or near oversold territory. The one commodity that has moved well into overbought territory in recent months is wheat. Since bottoming on April 3rd, wheat is up 74.2%. Click here for a list of commodities ETFs in the US. There is an ETF that tracks wheat, but it trades in London under the ticker WEAT.
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