"How long" is interesting. Very often it's impossible to tell. I still haven't read a good account of why lumber prices went up so fast and down so fast in the

"How long" is interesting. Very often it's impossible to tell. I still haven't read a good account of why lumber prices went up so fast and down so fast in the US during covid. For semiconductor prices, the cycle can be very long because building and ramping up a new factory (fab) takes years. And several manufacturers probably went at it at the same time - just about guaranteeing a fast down cycle later. For oil the upward slope can be very fast because news of war, or oil companies can announce slowing exploration from one day to the next. While a downward effect like developing fracking was spread over years. "Peace" in the Middle East would have a very fast downward effect by reassuring everyone that oil commerce is back to normal.