9.9 the level that was the lowest . This is extremely volatile , just look at the spikes and gaps up and down. According to chart, it touches the support level of 9.9 and rightfully it should rebound anytime soon. If it does, that means equities should fall. Christmas is near, would this spike up dampen the Christmas spirit ? Think profits taking, year end window dressing, going on holidays, etc......
Comment:
If it continues to spike up which I think it would, then global equities would go into a healthy correction for December and maybe early Q1 2018 as well. The media would take this opportunity to feed the market with negative news as if the stock market is going to collapse and perhaps some frenzy retail investors would start dumping their stocks, thinking the end is near.
Let's see if my thoughts would turn into reality soon.