A. As expected , VIX bounced off the support!!!
B. 100MA was taken out and Setting up an resistance levels of 36-37
C. Closed above all D MA's.
What can we expect next?
a. Squeeze (Sideways moment until it gets an direction)
b. Attempt to break 36-37 levels.
c. RSI coiling back up and test of resistance (channel)
If it breaks 36-37 levels we can see a reclaim of 43.5 (Bigger resistance)
PS: TVIX is gonna be taken out 12th of July. So we can see some nice action before it's gone for good.
All the very best Trading guys.