The Oil Market Is Pricing in a Recession

If you look at the flat price chart, patrick, especially with that great big move we had t Tuesday morning after the fourth of july holiday, the market is pricing in a recession. It was not just crude oil, it was also copper and gold and everything else selling off. But if i look at what the time spreads are doing, they tell an opposite story from what we're seeing in the flat price. Place is definitely really big dip here. Bear market trend is down. Looks like it could have much further down to go, if you just look at the chart.