Equity Indices Monthly (Feb ’16)
The rising trend from the August 2015 year low remains intact, but mixed short-term studies are keeping VIX price action cautious. Rising monthly studies, and increasing volatility, however, anticipate further gains into the coming months, with a break above the 32.09 high of January to target the 33.15, (50%) retracement of the August- October fall. Just higher is the 33.82 high of September.
Support into limited setbacks is down to congestion around 18.00, with an unexpected close beneath here turning price action neutral. A further close below 15.00, however, will signal a deeper reaction, and turn price action negative.
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