The Uganda shilling closed at 3348 on the US dollar, 4643 on the British pound, 3660 on the Euro, 32.90 on the Kenyan shilling and 2478 on the Canadian dollar. The stability of the shilling is impressive. Mind you it is still way off from its last price a year ago.
Coffee Arabica closed at $2.99 per kilo.
Coffee Robusta closed at $1.58 per kilo.
No idea what is making coffee go down apart from the fact that all commodities are trending lower.
Gold ended at $1223 per ounce after losing $15.80. We will see how the stock markets did because Gold is the safe place when there is market turbulence.
Oil – sweet mother. It is on a run upwards. Nice move. Closed above the 50 day moving average and this is a chart that every long trader likes. Well, most of them. It is the shorters who would hate such a beautiful chart. A bit of caution is advised though because it put in a hangman meaning it will likely pull back to the 50 day moving average before resuming the climb up. Use the symbol $Brent as brent crude is what Uganda will be looking at.
Shanghai does not look good at all. It barely moved but closed within the big red fall candle yesterday. The $SSEC is on its way down. It gained 26 points but the chart says, today was a breather from the fall.
Hong Kong gained 8 points. It opened low and then proceeded to recover. It is approaching its resistance at the 50 day moving average so I would be careful with the $HKDOW.
Tokyo gained 48 points. The $NIKK is trying to rise but each attempt is wrapped up in the three red negative candles from previous trading. The other thing is the resistance (50 day MA) is sitting well above the current level.
Frankfurt gapped up and gained 182 points. Which seems like good news but keep in mind that the $DAX is still closing well below its resistance aka 50 day moving average.
Paris gained 66 points and pierced through the 50 day moving average. It pulled back and closed under it but it looks like the $CAC is going up. It also gapped up and this is always a good thing. Gap down is a bad thing.
London is on the move. It put in a nice white candle today marching well above that 50 day moving average. Chart of the day. The $FTSE does not seem to be listening to Frankfurt and Paris. Great thing. If you look on the chart, last week’s 4 white positive candles have held London up till yesterday when it resumed the march.
Toronto gained 45 points and this is not a big move for the $TSX. What is interesting is its ability to remain above the 50 day moving average. On the other side, the MACD shows that it is going to pull back and likely to its support (the 50 day MA) and likely resume the climb up from that.
Dow Jones Industrial Average lost 57 points but remained withing yesterday’s white positive candle and above the 50 day MA. The 57 points is nothing for the $INDU.
Standard and Poor lost 4 points, remained within yesterday’s positive white candle and above the 50 day MA. Usually the $SPX leads the markets but this week it seems to be the follower.
NASDAQ gained 8 points. It is getting close to its resistance, the 50 day MA and will likely pull back a bit. The overall chart looks bullish though (buyers) so with Easter and Mother’s day approaching, it will likely move up.
GLOBAL NEWS can be found in the update I provided earlier to the group in Cameroon. http://nangalama.blogspot.ca/2016/02/update-for-cameroon-group-mind-your_26.html
Do not trade with money you cannot afford to lose. The markets can flip on you very fast and you will still need to pay your rent, mortgage and put food on the table.
Martha Leah Nangalama
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