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CBOE VIX may spike higher as US Equities fall

FXStreet (Mumbai) - The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) has inched higher today after posting a fall of 12.96% yesterday.

The VIX now trading 3.11% higher at 15.58, while the DJIA and the S&P futures are trading 0.48% and 0.40% lower respectively. The VIX may rise further as the equity markets are looking weak just one day after the dovish US Federal Reserve (Fed) minutes.

VIX Technical levels

Technically, the VIX has repeatedly failed to sustain above the resistance zone of 17.50-18.00. If the index sustains above the immediate support level of 15.38, we may see a re-test of 17.50 and 18.00 levels.

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