Above is the daily chart of Volatility Index (.VIX) which measures the implied volatility of S&P500 options.
The index currently drops to the strong support zone at around 14.3-15.3. This area is historically extremely strong and VIX is not expected to drop below it.
Both MACD and RSI are at low levels, suggesting that there is no other major factors stopping the boost of the index.
So the index should jump within few days. For the upside, the red down-trend line provides resistance to VIX at around 23.
After reaching the resistance, as suggested historically, VIX is more likely to slump back to the support zone, and wait until the jump next time.
No comments:
Post a Comment