Bespoke's Commodity Snapshot (11/21/08)

by: Bespoke Investment Group November 21, 2008 | about stocks: DBA / DBB / DBC / DBO / DBP / DEE / DJP / GLD / GSG / IAU / JJC / OIL / SLV / UNG / USO    

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Below we highlight our trading range charts for ten major commodities.  The green shading represents two standard deviations above and below each commodity's 50-day moving average, and moves above or below the green shading indicate that the commodity is in extreme overbought or oversold territory. 

With the huge drop in commodity prices in recent months, it's no surprise that all ten are closer to the bottom of their ranges than the top.  Judging by the charts, oil, platinum and copper have had the steepest declines, while gold and coffee have held up the best.  

And it's pretty intriguing that platinum and gold are trading at pretty much the same prices, even though platinum is much rarer than gold.  Platinum is currently trading at $800, while Gold is at $772.  One reason for this parity other than the fact that gold is the key commodity to protect against currency declines could be that Platinum doesn't have an ETF that tracks the commodity, while Gold has quite a few. 

click to enlarge

Oilnatgas1121 

Goldsilver1121 

Platcopp1121 

Cornwheat1121 

Ojcof1121

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This article has 4 comments:

  •  
    Nov 22 11:59 AM
    Best commodity charts on the web !
    Reply | Link to Comment
  •  
    Nov 22 01:15 PM
    Or maybe Platinum's use as a Catalytic converter has something to do with its decline. Some common sense please.

    Line graphs are always a better visual for commodities; using High/low/close tends to distort rather than enhance.

    Nat. Gas is starting to look really interesting again.
    Reply | Link to Comment
  •  
    Nov 22 02:02 PM
    They will shoot up in a butshell. One year from know all of them will be much higher.

    jimrogers-investments....
    Reply | Link to Comment
  •  
    Nov 22 02:04 PM
    Nice oil analysis at:

    oiltradersblog.blogspo...

    Oil is very oversold. It may rebound a few dollars over the next few days.
    Reply | Link to Comment
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