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CBOE VIX hits a 21-month high

FXStreet (Mumbai) - The Chicago Board Options Exchange(CBOE) Volatility Index (VIX) has hit a 21-month high of 22.30 today as the S&P futures and the DJIA fell by 0.22% and 0.24% respectively.

The CBOE VIX is trading 4.99% higher at 22.30 at the time of writing. The Index bottomed out in June when the index had hit a low of 10.32. Since then, the volatility has been on the rise as the investors price-in the direction of the Federal Reserve (Fed) policy amid weakening global growth. The geopolitical tensions also had a role to play in pushing the VIX higher.

Moreover, the VIX has given a breakout above key resistance levels, which may be a warning of further slide in the equity markets.

VIX Technical levels

The VIX has an immediate resistance of 23.23 (Dec 2012 high), above which it can rise to 25.00 levels. On the downside, 21.48 and 18.00 levels should act as the strong support levels.

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