Close Navigation
Learn more about IBKR accounts
VIX (VX) Retests Weekly Chart Downchannel Support

VIX (VX) Retests Weekly Chart Downchannel Support

Posted November 15, 2021
Darren Chu
Tradable Patterns

VIX (VX) Retests Weekly Chart Downchannel Support

The VIX (VX) is trying to firm as it approaches its November and 2021 low.  Significantly, the VX is testing downchannel support (on the weekly chart), increasing the odds of halting a 6 week slide this week.  A bullish daily close above downtrend resistance (on the daily chart) could occur as early as today following the 830am EST US Retail Sales data.  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 and from the Jan 26th alert of the growing probability of a rebound in the VIX.  Except for the weekly MACD which doesn’t appear reliable for interpretation given its short data history, the weekly, daily and 4hr RSI, Stochastics and MACD are sloping slightly down or making early efforts at bottoming.  I am long as of today at 19.9, although if I were flat, I’d look at entering long in the green zone (of the daily chart), targeting the red zone for Monday.  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 NASDAQ100, USDJPY

Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)

Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)
Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Tradable Patterns and is being posted with its permission. The views expressed in this material are solely those of the author and/or Tradable Patterns and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Disclosure: Futures Trading

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.