Tuesday, October 24th, 2017

Brexit rocks markets

The long awaited happened. On June 24 , 2016 Britain voters decided to pull their country out of European Union. It was expected that Britain will pull out after suffering  two decades of financial woes and immigration issues with rest of the Europe. As a free economy it will have consequences and may enter a recession soon because lots of financial ties are cut, but in the long run Britain would have better economy and may upgrade their financial strength. This is just what may have happened but time will tell.

The world financial markets however roiled. The event was binary in nature, just like a bad earnings report on a stock and the stock plunges  and never recovers for a long time. Here is a video on the state of affairs on the technical aspects of the US markets which we trade.


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