Bespoke's Commodity Snapshot (3/26/09)

March 26, 2009 | By: Bespoke Investment Group

Below we highlight 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.

Judging by the charts, the majority of commodities have formed very nice bases over the past few months. Natural gas is the only commodity that continues to make new lows within a long-term downtrend. Oil is now at overbought levels, so a short-term pullback may be due. Metals are currently in nice uptrends, with platinum the most overbought of the bunch. Orange juice is at the top end of its trading range, while wheat is currently testing its multi-month lows.

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