XIV has fallen out of the white channel, and is now trading in the orange channel. XIV tested the orange channel support last week.
Next, a spike up is anticipated for XIV to backtest the white trendline. The spike up is expected to start gradually this coming week, and intensify as month-end April approaches.
March 18, 2017 analysis:
XIV has reached it's short term target, and a pullback is due. XIV has been trading in the white channel, but the slope is too steep, and appears unsustainable.
A pullback to the orange channel with a more gradual slope is likely to occur next.