Today's interesting charts
Eoin Treacy's view The Chart Library has an extensive selection of commodity and related funds which may be of interest to subscribers.
Wheat - breaking out of the more than yearlong base. Prices are somewhat overbought in the short term but a downward dynamic would be required to check momentum beyond a brief pause.
Oats - testing the upper side of the base and a downward dynamic would be required to check potential for a successful upward break.
Arabia coffee - breaks upwards to a new 12-year high and a fall back below 160c would be required to check upside potential.
Orange Juice - has been ranging in a relatively gradual mean reversion for much of the year and is currently rallying towards the upper side of the range. A sustained move below 135.60¢ would be required to question potential for continued higher to lateral ranging.
Sugar - continues to rally impressively, having found support in the region of 13c from May. While somewhat overbought in the short-term, a sustained move below 17c would be required to question scope for further upside.
In conclusion, while the current weakness of the US Dollar has been a tailwind, the extent to which these commodities have advanced is not solely currency related and the commonality across the sector indicates demand has returned to a position of dominance.