$United States Oil Fund LP(USO)$ Oil is now peaking above the 18-year trend line in late Oct 2026 and looks to be on the cusp of a massive Elliott Wave 3 impulsive advance into 2027 and beyond, unless a global recession and a 2001/2008/2022-style equity bear market with a negative wealth effect feedback loop destroys energy demand. Oil could reach 140-150 on the breakout. For anyone still doubting oil will go much higher barring a global depression that kills energy demand, there is another big picture setup pointing the same way: an 18-year, very probable, inverse bullish head and shoulders pattern for oil in Oct 2026. $Energy Select Sector SPDR Fund(XLE)$ $Valero(VLO)$ $SPDR S&P 500 ETF Trust(SPY)$ $SPDR Gold ETF(GLD)$
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