Markets have been on a steady rise and the same can be said for Inverse Fear ETF (NASDAQ:XIV). Below is a look at the XIV since its lows in 2011.
What a difference a year can make. One year ago this week, XIV was testing rising channel support as relative momentum was hitting levels last seen at the 2011 lows.
One year later and the ETF is testing dual resistance at (1), with momentum hitting the highest levels in history.
This is not a place that the risk-on trade in XIV wants to see selling pressure come forward.
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