Heating and Crude Oil – really? September 10, 2026

I made a mistake yesterday w/ the Crude chart.

Didn’t measure the first corrective bounce correctly. Here’s the updated chart:

So, as a long term investor/trader I try and do some counts on the longer term charts because, frankly, it’s easier! 🙂 Not that my counting is any good but I can manage and, as the late great, Connie Brown taught me – “learn the corrections!” That I feel pretty good with … so, anyway, here’s the long term count for Heating Oil Futures. Folks, it doesn’t break any rules so, in my book, that’s a valid count. Correct?

Trying (for me) to keep Elliott Wave simple – just know the three rules.

1/ Wave cannot (RULE) go above or below the beginning of wave 1. In the count above that is satisfied.

2/ Wave 3 can’t be the shortest. In the count above, w/ this count, that is NOT going to be a problem.

3/ Wave cannot go above/below the end of wave 1. No applicable – yet.

So, what is this forecasting – much much higher heating oil (think Diesel) prices in the future.

Get long commodities folks …