Below we highlight our trading range charts for ten major commodities.  The green shading represents between one and two standard deviations above and below the commodity's 50-day moving average.  When prices move above the green shading they are considered overbought (and oversold for moves below the green shading). 

It's no surprise that the price of oil is trading at the top of its range.  The last time it traded close to oversold territory was in early February when all commodities experienced a selloff.  Since then, crude and natural gas have diverged from the rest of the bunch.  Gold, silver, copper and platinum continue to trade sideways or in downtrends, and the same goes for orange juice and coffee.  Flooding in the Midwest has caused corn and wheat prices to spike once again.  As shown below, corn prices went parabolic last week.

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