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
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