The Volatility Index (VIX) broke out of its recent downtrend last week and into a mini fractal of that downtrend. That fractal assisted in forming a one month diamond pattern, indicating that a short term trend change may be in the works. After all, we are about to get a double dose of central banks – so buckle your seat belts.
Strong support lies below at 16 and any break lower would favor a bullish thesis.
Volatility Index (VIX) technical chart with support and resistance levels and trend lines. VIX technical analysis looking for a possible short term trend change. The VIX is a measure of stock market volatility.
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