VIX - Volatility Index - Daily

The VIX has support below and could bounce higher.

Technicals

The VIX continues to form higher lows on each rally, suggesting a general bullish momentum is appearing. Support below sits at 27.45 followed by 27.14. If recession fears continue, then a rally towards the 30 levels could be very possible - all it takes is 1 negative day. Towards the upside, the initial resistance sits at 30. followed by 31.1. At these levels, the VIX then becomes a short opportunity.