VIX Will Move Higher! Long!

Here is our detailed technical review for VIX.

Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The market is on a crucial zone of demand 12.66.

The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 16.01 level.

P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.

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Comment:

Great beginning for a trade, let’s hope it goes further!