Painful as the current decline is the suggestion is that whatever low is put in place over the next few weeks won't be the absolute low. However, it may mark a retest low for a rally-and-decline for 2009 (fitting an earlier suggestion of mine for a possible sideways market in 2009).
Commodities generally take another 9 months from the stock market bottom; so it could be mid-to-late 2010 before a true bottom is in place for commodities.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website