Here is a strong reason why oil , gold , copper , sugar , and any other currency and asset denominated in US Dollars will likely continue having such a hard time. When this peaks and reverses, be liquid enough for futures contracts in commodities . It will be a fun time. For now, global deflation or disinflation is the direction.
93/92 might be the bottom - keep an eye.
96/97 is the bottom/turning point for bullish resumption.