GOLD Weekly Forecast Analysis 3-7 Oct 2022

GOLD Weekly Forecast Analysis 3-7 Oct 2022

We can see that currently the volatility is around 2.69% for this week, decrising from the 2.73% from the last week.
Currently there is around 22.3% that the asset is going to close either above or below the channel:
TOP 1706
BOT 1615

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 = 1.45%
AVG weekly bear candle = 1.83%

With this mind, from the opening price it would situate us around
TOP 1684
BOT 1631

At the same time, there is currently a 70% that we will touch the ath of previous weekly candle of 1675,
and there is a 30% that we will touch the low of the previous week of 1614


From the technical analysis point of view:
The majority of moving averages ranging from 10 to 200, are currently around 80% 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 48% bearish weekly candles.