I was doing some searching around for a site with good free commodities charts and thought I’d share a list of decent resources. Ok, make that resource. I’ve had a heck of a time finding free charts of commodities, so if anyone has suggestions please leave them in the comments section. It’s greatly appreciated.
It’s interesting to look at historical prices of orange juice futures, frozen pork bellies and lumber. .. some of the commodities you never hear about.
Of course it’s also interesting to take a look at the parabolic runs in corn, wheat and oil. One decent free resource is TradingCharts.com. It’s not the most user friendly site you’ll ever use but they do have all the commodities charts and if you display on a monthly basis you can pull up a 10 year chart.
Can you say bubble?
The corn bubble appears to be popping.. don’t expect to ever see $750 again
Very skinny heady and shoulders top on wheat? 1250 will never be seen again.
Oil at $110 in the near future is all but a given and I think if we can’t hold there, we could see $90 by next year. Even if oil drops to $75, if still retains its bullish uptrend.
I’m looking for some kind of snap back relief rally in many of these commodities, but the longer term picture (6 months to year) doesn’t look good if you’re a commodity bull.