VelocityShares Daily 2x VIX ST ETN (TVIX)

[Citrati]

Yesterdays gap up completely closed now and price testing 3day market structure support.
If it gets that low 43.75-42 is key level. if that doesn't hold then odds of going into the 30's will begin increasing by leaps and bounds. TVIX in oversold so don't expect a steady fall. If downward continues it will likely have some cooling levels. Keeping watch for lower highs, lower lows and resistance levels.
All from a 5minute chart only and not an exhaustive analysis. JMO and not a recommendation to trade.

Green Trades

PS: see how much strength this low 44.71 hammer candle has.