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VIX (VX) Consolidating Near Key 25 Level

VIX (VX) Consolidating Near Key 25 Level

Posted March 24, 2023 at 1:41 am
Darren Chu
Tradable Patterns

VIX (VX) Consolidating Near Key 25 Level

The VIX (VX) is consolidating after bouncing strongly yesterday off a much higher low versus the 2023 low (from 2 weekly candles ago).   Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds of a test of this week’s high next week.  Watch for volatility today 945am EST with the US Flash Manufacturing PMI and Services PMI.  Congratulations to premium subscribers who benefited from the March 17, 2020 warning of the pending slide in the VX, one day before its record high on the front month contract, or more recently from the Nov 30, 2021 alert of the growing probability of a rebound in the VIX and repeated Jan 18, 2022.  The tiring weekly RSI and Stochastics are weighing on the still upsloping weekly MACD.  I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Thursday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on S&P500, EURUSD

Source: Interactive Brokers TWS

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