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Scenario Analysis · Historical Cycles · All Signals

Commodity Cycle Scenarios

What happened in every major cycle since 2008 — signals, stocks, returns and lessons. Plus signal combination playbooks and macro regime guides.

Signycle Research 11 scenario analyses Where are we now?
Current cycle position: Cycle score 81/100 — late cycle. Brent $108 (SELL), copper $12,043/t (DEEP SELL), recession probability 54%. See live signals →
HISTORICAL PERIODS

What happened to signals and stocks in every major cycle since 2008.

Highest conviction entry
2008–2011 · All Signals
The 2008 GFC — All Signals Fire Simultaneously
Brent $35, copper $2,825/t, BDI 663. Every signal hit BUY at once — the greatest commodity bull run followed.
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Patient cycle
2015–2016 · Oil + BDI + Copper
The Oil Crash and China Slowdown
Brent fell to $27. The BDI hit 290 — an all-time low. The longest trough since the 1980s, and +467% in Glencore.
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Fastest recovery
2020–2022 · All Signals
The COVID Cycle — Fastest Recovery Ever
Brent went negative. BDI hit 393. Then +963% in Golden Ocean, +621% in Frontline in under 18 months.
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Geopolitical cycle
2022–2026 · Energy + Defence
Ukraine Invasion — Energy and Defence Supercycle
Brent $139, gas +325%, defence stocks begin multi-year rearmament. Rheinmetall +767%.
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SIGNAL COMBINATIONS

What to buy when specific signals cross their thresholds — with historical returns.

+107% to +487%
Brent < $40/bbl
When Brent Falls Below $40
Occurred 3 times since 2000. Every time, oil stocks returned 107–487%. Here's the exact playbook.
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+191% to +963%
BDI < 1,000 pts
When the BDI Falls Below 1,000
4 occurrences since 2008. Golden Ocean averaged +537% return from BDI trough. The most reliable signal.
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+245% to +1,140%
Copper < $5,000/t
When Copper Falls Below $5,000
3 occurrences. Freeport-McMoRan averaged +676% return from copper trough. The Dr. Copper playbook.
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MACRO REGIMES

How different economic environments affect cyclical stocks — inflation, recession, recovery.

Best entry points
Macro Regime · Recession
Cyclical Stocks During Recessions
Recessions destroy cyclical prices — and create the best buying opportunities. Historical playbook for every recession since 2000.
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Natural hedges
Macro Regime · Inflation
Cyclical Stocks During High Inflation
High inflation is the natural habitat of commodity stocks — but not all sectors benefit equally. Here's what history shows.
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Sector sequencing
Macro Regime · Recovery
The Recovery Phase — Which Stocks Lead
Shipping leads, oil lags. Every time. Here's the historical sequencing of sector recoveries with returns from 2009, 2016 and 2020.
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SECTOR ROTATION

How to move between sectors as the cycle evolves.

Complete guide
Full Cycle · All Sectors
Sector Rotation in the Commodity Cycle
The complete rotation map: what to buy at each phase of the cycle, with historical returns. Phase 1: shipping. Phase 2: oil. Phase 3: steel. Phase 4: exit.
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Quick reference — Historical cycle returns
CycleBest signalBest stockReturnDuration
GFC 2009Copper $2,825/tFreeport-McMoRan+1,140%25 months
2016Steel PMIArcelorMittal+700%36 months
COVID 2020BDI 393 ptsGolden Ocean+963%17 months
COVID 2020VLCC $15k/dayFrontline+621%20 months
Ukraine 2022NATO spendingRheinmetall+767%48 months

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Macro Cycle Intelligence
Where are we in the cycle? 📉 Recession probability: 54% 📈 Market cycle indicator history