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Thursday, December 8, 2016

Has IG Group Holdings Just Experienced a Flash Crash?

IG Group stock (LSE:IGG) has just experienced what can be called a flash crash. Whatever happens afterwards would determine whether this would be the beginning of a new bearish trend or whether the gap would be filled.


Price went upwards from July to  September, 2016. Since then price started going south gradually from October… Until there was a significant drop in price.

Price gapped below the lower Trendline, slashing through the demand level at 500.0. The RSI period 14 has also gone below the level 50, signifying a bearish market. Even the RSI is in the oversold region.

The gap might either be filled later, as the RSI goes above the level 50, sloping upwards; or it may continue trending lower. If the former statement is true, then what massive gap-down is a flash crash.

This forecast is ended by the quote below:


Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Super Trading Strategies: Super Strategies 
  


Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng

1 comment:

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