VIX - The recent high to be taken out soon

The volatility index, VIX, has spiked again, with the market marking new lows for the year. With these grim developments, we continue to be bullish on the index and expect it to reach our short-term price target of 35 USD soon. As if it was not enough, we expect VIX to continue higher over time. Therefore, we want to set a medium-term price target for VIX at 37 USD. Our preceding articles are attached to this idea.

Please feel free to express your ideas and thoughts in the comment section.

DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.

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VIX failed to reach our price target of 35 USD. Indeed, with the strong buying pressure in the past week, it started to decline. However, that does not change our belief that it will reach our price targets over time; merely, it will postpone them further in the future. For the short-term, if the market continues higher (before the FED meeting), then the VIX is likely to decline. Regardless, we do not abandon our price targets.

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VIX shows some signs of decline, however, we stay committed to our bullish outlook.

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The VIX index paused its decline shortly before the FED meeting. We will closely watch the index's reaction after the FOMC decision.

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The VIX fails to follow through and fulfill our prediction. We abandon our price targets on the upside.