Volatility on the Rise from a Technical Perspective (VIX)

VIX: Volatility from a technical perspective is on the rise! For all of 2012 the VIX index has been falling to levels last seen in August 2011. The index has been oscillating and is now at the bottom of the trending range. This reading may mean a possible rebound in the upper side and an increase in volatility levels. The likeliness of a rebound is highlighted by a clear double bottom pattern happening right now. If the Index goes above the 22.5 level, it may mean a sustained trend in the upper side. In the short term, today's explosive 17.45% change in the VIX is the highest range of the year, the main moving averages are all crossing up and RSI indicator is above its 50 level. Base on this information - volatility may be on the rise.