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MtICHI

ichimikou analysis of usoil on 3H TF and wolfe wave pattern

CFDs on Crude Oil (WTI) (FX:USOIL)  
MtICHI Updated   
FX:USOIL   CFDs on Crude Oil (WTI)
Wolfe Wave Technical Indicators Harmonic Patterns
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wolfewaves indicator harmonicpatterns
as you see tk and ks crossed each other on 3h time frame below kumo cloud so we are expecting a bearish move and then upward rally around 89 $ because of usdcad retracement and hormonic pattern seen earlier
please see this harmonic pattern as well
over 85.64 WTI is bullish
and also usdcad retracement
1.32 is target
Comment:
a strong cross of ts and ks on 4h time frame indicating bearish move is possible
snapshot
Comment:
Wednesday's EIA report showed that (1) U.S. crude oil inventories as of October 21 were -1.3% below the seasonal 5-year average, (2) gasoline inventories were -6.7% below the seasonal 5-year average, and (3) distillate inventories were -20.2% below the 5-year seasonal average. U.S. crude oil production in the week ended October 21 was unchanged at w/w to 12.0 million bpd, which is only -1.1 million bpd (-8.4%) below the Feb-2020 record-high of 13.1 million bpd.
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