are typically the last asset to peak during a cycle. We typically interest rates peak first, a couple of months later that followed by equities and a couple of months after equities we see commodities
such as crude oil
, are part of the contraction phase in the cycle, the higher the price rises it begins to acts as a tax on consumers and that begins the early recession phase. For that reason, I have marked this rally in crude as a wave A of a bigger corrective pattern.