Volatility index passes major support

Source: Dukascopy Bank SA


At the start of November, the US stock volatility index passed below the October low level at 16.00. It indicates that the index could approach prior low levels not seen since September.

The ongoing decline could soon look for support in the 14.92 and 14.65 levels that have acted as support in August and September. Below these levels note the 13.95 level and the 2023 low level range at 13.37/13.83.

On the other hand, an increase of volatility would have to break the resistance of the 16.00 mark, before it approaches the 18.00 mark that has managed to impact the index.
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