Commodity prices have moved higher again today almost across the board. Note here the daily chart for the Goldman Sachs Commodity Index, showing a very long green candle for today, indicating that commodities have moved yet substantially higher. Nearly any commodity or commodity index an investor could select would be higher today. Crude oil, natural gas, precious metals, wheat, soybeans, corn, sugar, cotton, cocoa, and several others have all reached new highs today. Is it any wonder that last green candle is so tall today? This market is beginning to feel overbought and possibly in bubble territory to me. I am going to begin looking for a harsh retracement before the commodity bull continues.
GSCI futures
Grains
Sugar
Cotton
Cocoa
