We really do need steam otherwise we could see even lower lows on XJO. Weekly and monthly are both pointing to another leg down, the bears are definitely still in control. September Inflation figures released at 11:30, 1.8% for the month alone. Keep in mind the RBA's annual inflation target is 3%-3.5%
That puts us at 7.3% annually so far, no surprise XJO opened weak and sold off early morning, I hate to sound bearish but I'm honestly surprised XJO is not in the red.
It'll be interesting to see where we go from here
Cheers
We really do need steam otherwise we could see even lower lows...
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