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Commodity Price Index Near Most Overbought Level In 45 Years!

Courtesy of Chris Kimble

The CRB Commodity Index has rallied sharply over the past 2 years.

And although the index is not near all-time highs, it is getting stretched into overbought extremes.

One way to look at whether a security is trading near extreme levels is to check on its % above the 200-day moving average. This indicator is screaming overbought right now.

Only a few times has the CRB Commodity Index been this much above its 200-day moving average line – it is currently trading 16% above its 200-day.

Due to the Russian situation, it may seem odd for commodities to take a breather here. But perhaps a little “sell the news” or some consolidation will be in store. Either way, it’s worth watching. Stay tuned!

This article was first written for See It Markets.com. To see the original post CLICK HERE

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