VIX – Back Above Key Zone

By | July 8, 2014

The VIX has been reverting around a multi-year support level on the weekly chart for the last two months, and today it is once again attempting to move above that resistance.

38.  VIX weeklys chart

This support can be seen on the daily chart as a zone between the 11 and 12 levels on the daily chart. The index has penetrated this area to the downside several times in June and once earlier this month. At this point in the session, it is above the zone parameters, its 50 day moving average and a downtrend line drawn off the May/June highs.

38.  VIX  daily chart

I am long the VXX.

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