$VIX = Monthly Update = 30.11.2021 #stockmarket $vxx #investing #trading

VIX closed November with a complete bullish Engulfing and this is very concerning as it might trigger a multi-month bull market for the volatility index. However, there are some bearish signals on the smaller time frames. Let’s try to decipher the candlespeak there.

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Monthly
Bullish Engulfing. Based on the Candlesticks theory, we should expect at least one month of higher prices after the formation.
Odds: Bullish

Weekly
The current weekly candle formation shows some hope. If it stays on approximately the same level for the next 3 days and does not close the week above the previous week high, it could make a bearish combo.
Let’s see how the week closes.
Odds: Bullish-Neutral

Daily
The daily candle is more bearish than bullish. It could be treated as a Hanging Man that closed above BB. There is a very good chance of a decline in the next few days. This would be supported by some indicators.
Odds: Neutral

Summary:
While the monthly candle is clear about the path, there is a chance that the rally could be short-lived – a week or two. The weekly and the daily candle structures point towards that option.

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CANDLES

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