USOIL Weekly Forecast Analysis 28 Nov-2 Dec 2022

28 Kas 2022

USOIL Weekly Forecast Analysis 28 Nov-2 Dec 2022

We can see that this week, the current implied volatility is around 6.37% , down from 6.6% of last week.
According to ATR calculations, we are currently on the 85th percentile, while with OVX we are on 88th percentile.
Based on this data, we can expect on average, the movement from open to close of the weekly candle to be :
In case of bullish - 5.25%
In case of bearish - 4.6%

With the current IV calculation, we have currently 27.6% that the close of the weekly candle is going to finish either above
or below the next channel:
TOP: 81.5
BOT: 71.5

At the same time, taking into consideration the high/low touch calculation from the previous values, we can expect for this week:
70% chance that we are going to touch the previous low of the weekly candle of 75.5(ALREADY HIT)
30% chance that we are going to touch the previous high of the weekly candle of 82.3

Lastly from a technical analysis point of view, currently 65% of the moving averages rating, are insinuating we are in a BEARISH trend.