## Crude Oil – Wolfe Wave Pattern FormationWest Texas Intermediate Crude Oil cashBLACKBULL:WTIshiva560060**My rating: 7.5/10 — reasonably strong bearish Wolfe Wave setup, but confirmation is still pending.** ### Pattern structure * **Point 1:** ~83.0 * **Point 2:** ~80.0 * **Point 3:** ~84.0 * **Point 4:** ~81.0 * **Point 5:** ~84.6–84.9 — currently appears to be forming/just completed structure broadly satisfies a **bearish Wolfe Wave**, with the key **1–4 trendline acting as the resistance/convergence line**. ### Expected path If Point 5 is confirmed, the bearish sequence could be: **84.0–84.5 → 80.5 → corrective bounce near 81.5 → final decline toward 79.0–79.5** The dotted **1–4 line / Wolfe target line** around **79–79.5** is the important potential destination. ### Important confirmation I would consider the pattern **activated only if crude decisively rejects the 84.5–85.0 area and breaks the immediate short-term support around 83.5/83.3**. * **Above 85.0–85.2:** Wolfe setup becomes weak/possibly invalid. * **Below 83.3:** bearish probability increases significantly. * **Below 82.5:** pattern has stronger confirmation toward the lower Wolfe target. **Overall:** The geometry is good and Point 5 is in the correct zone, but since Point 5 needs clear rejection, I rate it **7.5/10 rather than 9/10**. The key is **84.5–85.0 resistance**. Disclaimer: This is a technical analysis of the attached chart for educational purposes only and is not financial advice. Wolfe-wave/trendline/divergence setups can fail, and the stated levels should be treated as technical reference points rather than guaranteed targets. Always use independent confirmation and appropriate risk management.