The official EminiForecaster forecast for the trading week ending November 7th has been posted.

http://eminiforecaster.com/members/membersblog/forecaster.php

There are no changes to the forecast. We again expect the market to decline for the first couple days and then rise from there.

Cycling below the 1983 area is bearish, above it is bullish. We are currently in a bullish mode.

The volatility has been declining in recent days which is bullish and at about 26.8 points per day.  The longer term volatility continues to decline towards more normal levels.  We are past the October 17th seasonal discussed in past weeks so it is possible we shall see good upside going forward as ranges again potentially decline.

Our projections for the coming week are showing 2058 above and the low end is showing 1946 as a potential target. This method operates on about the 70% probability level over time. Currently these ranges are highly expanded due to the very high volatility and will likely become smaller by Sunday’s forecast.

Monday, an open below 2006.50 is bearish. An open above 2011.25 is bullish. In between these levels is neutral and ranging is more likely.

We have a busy report schedule next week with reports on every day of the week.

EMF Team

P.S.  If you are interested in trading crude oil or learning about oil trading, visit http://OilTradingRoom.com