VIX testing resistance

R

reno4nook

the VIX index is testing resistance around the 46 level on the 60min chart.

There have been 4 recent attempts to break through that have been rejected.
Now a 5th try will probably happen on Monday.

Usually when there are multiple attempts to break resistance in a descending wedge, the attempt eventually succeeds.
 

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FWIW........if you draw a line from the Jan-15 peak to the Jan-20 peak AND keep your green line along the bottom, you have an expanding wedge. That is generally perceived as being a continuation pattern.....to the upside. We'll see how it plays out. :cool:
 
Although its very early, its begining to look like a breakthrough

Financials, which have been the big laggards this year are up 4%

Today's tick chart is very bullish as well with the lowest tick values only around -200
 
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