Crude Oil Weekly Forecast Analysis 3-7 Oct 2022

Crude Oil Weekly Forecast Analysis 3-7 Oct 2022

We can see that currently the volatility is around 7.05% for this week, decrising from the 7.4% from the last week.
Currently there is around 29% that the asset is going to close either above or below the channel:
TOP 87
BOT 75

The current volatility percentile is around 90th, placing us in a very risky environment. With this situations in general the market moves:
AVG weekly bull candle = 4.25%
AVG weekly bear candle = 5.36%

With this mind, from the opening price it would situate us around
TOP 84.6
BOT 76.74

At the same time, there is currently a 70% that we will touch the ath of previous weekly candle of 83,
and there is a 30% that we will touch the low of the previous week of 76.25


From the technical analysis point of view:
The majority of moving averages ranging from 10 to 200, are currently around 26% agreement that the market is in a bearish trend ( the current price is above those moving averages)
From the distribution of the candles, for this year we had 47% bearish weekly candles.