VIX (VX) Daily MACD Trying to Positively Cross

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The VIX (VX) bounced more than 10% yesterday off triangle support (on the 4hr chart) following 2 days of profittaking. Significantly, VX refused to fall to triangle support (on the daily chart), showing VX bulls are increasingly in control. VX appears poised to test triangle resistance (on the 4hr and daily chart) in the next few days, and a successful break would quickly be followed by a test of the October high. The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating suggesting a low likelihood of VX retesting triangle support (on the 4hr chart) today. I am looking at entering 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).

VIX (VX) Weekly/Daily

VX (VIX) Technical Analysis

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