OIL Weekly Volatility Forecast 26-30 September

OIL Weekly Volatility Forecast 26-30 September

Currently our volatility for OIL is at 6.6%, increasing from 4.7% last week, located on 100th percentile, placing us in a THE HIGHEST volatility environment

Based on the previous calculations, there is currently a 15.5% chance that the asset is going to break the channel(the weekly candle it will close above/below)
TOP 83
BOT 75.5

At the same time, based on the previous calculations:
- There is a 30% chance that the previous high from last week of 86.6 is going to be touched
- There is a 70% chance that the previous low from last week 78.02 is going to be touched(at the moment of the writing was already touched)
We can deduct that we have a much higher probability to have a continuation of bearish candle than bullish.

On average the weekly candle when the asset was located around this percentile are 4.5% for bull candles and 5.1% for the bear candles from the opening price.


From the fundamental point of view, news that can affect this asset price this week:
- Core Durable release, CB Consumer confidence and Powell Speech for Tuesday 27 Sep
- Powell Speech for Wednesday 28 Sep
- US GDP coming on Thursday 29 Sep



Overall I believe for this week there is higher chance due to the overall global activity to have another bearish weekly candle.