The copper to gold ratio may not necessarily be the best indicator of recession, as the logic of gold after the Russia Ukraine war is completely different from before. One is a safe option for foreign exchange reserves, and the other is the bearish index for US Treasury bonds. Looking at oil prices should be more direct. In 2008, the lowest oil price was 32, in 2019 to 2020, and now it is 65. It should be said that there has not been a recession yet, but if it continues to decline, it will probably be a recession. But it also depends on what the feedback formula of the Federal Reserve is.