TVIX Develops Converging Triangle

As you can see in the chart, TVIX continues to bounce back and forth off of the short term support and resistance. I am certainly leaning towards bearish behavior due to the short and long term resistance curve's strength. It has rejected upthrusts 4 times so far in the past month.

However, at some point the price will also begin to be challenged by the support curve as well. Up until this point I think it's safe to say you can expect the price to continue downwards.