Oil dropped 4.3%, hitting another five-year low in this week – a week Saxo Bank’s Ole Hansen describes as dismal with lots of volatility in the commodity markets.

The key question is how low oil will continue to go. For four days oil has been trading sideways within a five dollar range, which indicates that buyers are trying to dip their toes back into oil.

Even if oil should see a rise, Ole is not quite convinced that the bottom of the barrel has been reached yet. Supply is set to continue to rise in the first two quarters of 2015. Long-term trend lines also indicate that price could continue to fall.

Gold slid 1.8% this week, but has been very stable throughout the year. In fact, gold is down less than one percent since the start of 2014. This week, the markets saw stable price action despite potential negatives such as the rise in stocks, the USD strengthening and the falling oil prices.