GOLD Weekly Forecast 14-18 November 2022

GOLD Weekly Forecast 14-18 November 2022

Currently the implied volatility for this asset is around 2.5%, down from 2.53% of last week.
From volatility percentile, point of view, we are currently on 34th from ATR and 60th from GVZ index.

With this volatility percentile values into account we can expected on average that the weekly candle is going to be:
1.7% for bullish
1.8% for bearish

With the current IV, we can expect with a 77.7% probability that the market is not going to close either above or below the next channel:
TOP: 1816
BOT: 1726

Lastly, based on previous calculations, we have:
70% to hit the previous weekly high of 1773
30% to hit the previous weekly low of 1666