GOLD Monthly Forecast Movements 1-30 November 2022

GOLD Monthly Forecast Movements 1-30 November 2022

We can see that for this month, the implied volatility is around 6.71%, decreasing from 6.83% of last month.
This is currently placing us in the 80th percentile according to ATR and 92th according to GVX
Based on this percentile calculation, on average the monthly movement for the candle(from open of the candle to the close of the candle) is:
BEARISH Candle : 2.39%
BULLISH Candle : 3.03%


With this in mind we can expect with a close to 28.1% probability that our close of the monthly candle is going to close either above or below the next channel:
BOT: 1521
TOP: 1744


Lastly, based on the calculations that we had for touching the previous candle high and low values, we can estimate that there is a :
30% chance that we are going to touch the previous monthly high of 1730
65% chance that we are going to touch the previous monthly low of 1617