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VIX Got Rejected at Bearish Order Block

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CBOE VOLATILITY INDEX (VIX) FUTURES (CBOE_DLY:VX1!)  
Ochlokrat  
CBOE_DLY:VX1!   CBOE VOLATILITY INDEX (VIX) FUTURES
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The kickoff of the year 2024 unfolds with turbulence in the US stock markets. Consequently, the VIX opened with a gap-up. In the daily chart, it is evident that the VIX is struggling to overcome a bearish order block. Given the context of the significant gap, we anticipate a decline in volatility. This anticipated scenario is directly associated with rising stock prices, and accordingly, we maintain a bullish outlook.
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