$VXX looks like it's about to explode higher

So far the selloff has been pretty orderly the entire year and trying to play volatility hasn't worked. I think that's about to change.

$VXX has been consolidating in these two channels and looks like it's about to explode higher. If we can see $VXX get above $21 or so, I think we're about to see a huge move in $VXX. Similar to what we saw in March 2020.

I've marked off key levels of resistance on the upside. Let's see if it plays out over the coming weeks.

ความคิดเห็น:

Alright, looks like price is starting to finally move higher. $392 breaks on SPY and VXX should spike.

Let's see what happens over the coming days.