Below is a look at the performance of major commodities so far in 2017.  As shown, silver is up the most at +12.5%, followed by platinum (10.4%), copper (10.0%), and coffee (9.4%).  On the downside, natural gas has been by far the biggest loser with a drop of 29%.  Orange juice is down the second most at -9.3%, and oil is just barely in the red with a decline of 0.9%.

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Below is a look at one-year price charts for oil, natural gas, gold, and silver.  As shown, oil is right in the middle of what has become a very tight range, while natural gas has moved into extreme oversold territory.  As of this morning, natural gas was trading more than two standard deviations below its 50-day moving average.  Both gold and silver have recently moved to the top of their trading ranges, having recently broken above the top of their multi-month downtrend channels.

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