FYI: Below we take a look at one-year trading range charts for gold, silver, oil, and natural gas. For each chart, the green shading represents between two standard deviations above and below the commodity’s 50-day moving average. Moves to the top of or above the green shading are considered overbought, while moves to the bottom of or below the green shading are considered oversold.
While gold has been flat as a pancake lately, it has been holding just above the bottom of its uptrend support line. Gold bulls are hoping this sideways period is just a re-charge for a big move higher back towards the top of the channel.
Silver looks much different than gold, with a slightly downward sloping pattern over the last year. Just this week, we’ve seen silver move into oversold territory. While oversold levels eventually result in mean reversion (to the upside), if we were trading silver, we’d wait for it to break out to a new 52-week high before buying.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/charting-gold-silver-oil-and-natural-gas/
