OIL Weekly Forecast 14-18 November 2022

NYMEX:CL1!   Light Crude Oil Futures
OIL Weekly Forecast 14-18 November 2022

Currently the implied volatility for this asset is around 6.59%, up from 6.36% of last week.
From volatility percentile, point of view, we are currently on 66th from ATR and 66th from OVX index.

With this volatility percentile values into account we can expected on average that the weekly candle is going to be:
4.56% for bullish
5.01% for bearish

With the current IV, we can expect with a 71.0% probability that the market is not going to close either above or below the next channel:
TOP: 94.68
BOT: 83.35

Lastly, based on previous calculations, we have:
31% to hit the previous weekly high of 93.8
65% to hit the previous weekly low of 84.65


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