Above is the daily chart of Volatility Index (.VIX). We can see that after the index has jumped few days ago, it eventually fell, but somehow rebounced when reaching the support at around 18 yesterday. The three Moving Averages did provide some support to it as well.
We could expect it to rise more till the resistant at around 23.5 - 24.0. This Friday US will be announcing non-farm payrolls which are expected to have great increase; this should have significant impact on S&P, and hence VIX would probably jump again.
If the index breaks 24, the next resistant level is at 28.
The support level is at 18 and then 15, which is the very low these few months.
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