Below we provide our trading range charts of ten major commodities. The green shading represents two standard deviations above and below the commodity's 50-day moving average, and moves above or below this range are considered overbought or oversold.
As oil has moved to the bottom of its trading range in recent weeks, natural gas has finally moved to the top of its range. Natural gas also just broke above its one-year downtrend line, and now traders will focus on resistance that was made at its highs earlier this year.
Metals have settled down over the past few days as the dollar has ralllied. After trading above $1,000 for a short time, gold has moved back down to $992. Corn and wheat remain in downtrends, while the breakfast drink commodities (orange juice and coffee) have charts that look like a heart-rate monitor with multiple spikes and falls over the past few months.