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14 Jan 2015
S&P 500 VIX futures rise to three-month high
FXStreet (Mumbai) - The sharp fall in the equity markets triggered by panic sell-off in commodities today pushed the S&P 500 VIX futures to 21.93, a level last seen in mid-October 2014.
The VIX futures currently trade 4.47% higher at 21.08 levels, compared to the previous session’s close at 20.18 levels. On Technical grounds, the VIX futures have breached the resistance seen at 20.55. A rise above technical resistance indicates a high possibility of further sell-off in equity markets. Moreover, the VIX futures have slowly gained from the low of 13.40 hit on Dec. 5 on concerns of rout in Crude prices and renewed concerns of 'Grexit' that hit markets at the year end.
S&P 500 VIX Technical Levels
The immediate resistance is seen at 21.92, above which gains could be extended to 22.69 (Oct. 15 high). Meanwhile, support is seen at 20.55 (Jan. 6 high) and 20.00 levels.
The VIX futures currently trade 4.47% higher at 21.08 levels, compared to the previous session’s close at 20.18 levels. On Technical grounds, the VIX futures have breached the resistance seen at 20.55. A rise above technical resistance indicates a high possibility of further sell-off in equity markets. Moreover, the VIX futures have slowly gained from the low of 13.40 hit on Dec. 5 on concerns of rout in Crude prices and renewed concerns of 'Grexit' that hit markets at the year end.
S&P 500 VIX Technical Levels
The immediate resistance is seen at 21.92, above which gains could be extended to 22.69 (Oct. 15 high). Meanwhile, support is seen at 20.55 (Jan. 6 high) and 20.00 levels.