Volatility (VIX) VIX technical analysis

VIX at $17 shows a clear downtrend, with price below the 4h SMA20 (17.5495) and 1D SMA20 (18.03). Momentum is bearish: 4h RSI14 is 31, 1D RSI14 is 26, both near oversold but still negative.

The battle is at falling resistance trendlines. On 4h, that line is ~17.33 (2 touches), while on 1D it sits at ~17.1482 (2 touches). Immediate resistance is 17.295-17.355 (2 touches). Support at 16.4445-16.4955 has only 1 touch, so it is unconfirmed.

Bulls need a close above 17.355 to clear the 4h line, then a push past 17.9645-18.0155. Bears need to hold price under 17.33 and break the 16.4445 support zone to extend the decline.