Commodities Bubble?

A lot of financial journalists have recently been talking about how investors may shift from the housing bubble to a new commodities bubble. They point to the recent upsurge in commodity prices such as oil. But I took a look back at commodities prices over the last three years and even projected into the next couple years using an algorithm I developed, and I'm just not seeing this bubble they're talking about. Take a look for yourselves (click on image for full view).