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.
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93/92 might be the bottom - keep an eye.
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96/97 is the bottom/turning point for bullish resumption.