The current commodities bear market is nothing short of the worst 10-year decline since the Great Depression:
And the losses only got worse this morning when WTI Crude Oil futures were down more than 5% printing a low of $32.10/barrel:
This morning’s low marked the lowest levels for WTI Crude Oil since 2003 (even below the 2008 Global Financial Crisis crash low). The reversal back into the green we have witnessed during the last several hours is encouraging but we will have to see if the rally above support/resistance near $34/barrel will stick.