Crude oil a leading inflation indicator

Two observation made the last two years between crude oil and CPI:

1) There were 5 waves up and
2) 3 significant peaks

However, between the last 2 peaks of crude, it was a lower low follow-by its downtrend, and CPI followed this downtrend subsequently.

Among many commodities, crude oil moves the most in tandem with CPI, but crude seems to lead in this study.

Refer to the daily chart on your own, try drawing a downtrend line, you will see crude oil prices has broken above its downtrend line recently. If crude oil is going to transit to an uptrend from here, we will have to track CPI very closely. The inflation fear is still there.

Did a video on this observation last week, refer to the link below.

Crude Oil Futures
Minimum fluctuation
0.01 = $10
0.10 = $100
1.00 = $1,000
10.00 = $10,000

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