The Uganda shilling closed at 3350 on the US dollar, 4819 on the British pound, 3737 on the Euro, 33 on the Kenyan shilling and 2536 on the Canadian dollar.
Coffee Arabica closed at $3.11 a kilo.
Coffee Robusta closed at $1.62 a kilo.
A tiny bit of drop in coffee but not worth writing home about. I think it is stabilizing and no big moves is good news.
Gold dropped a whole $21 per ounce and closed at $1251 per ounce. This is good news. It means the other markets are going up so we are not seeing safety seekers going into gold in droves.
Oil (Brent Crude) was unchanged. Its chart pattern shows that it is about to pull back down. Expect oil to drop a bit.
Shanghai gained 6 points but the chart shows that it is going to slow down and move lower next week. The $SSEC usually forms a determining chart pattern and it is one which is hard to doubt.
Hong Kong gained 4 points but its chart pattern shows that the buyers are vanishing so expect the $HKDOW to fall next week.
Tokyo gained 87 points piercing through that resistance of its 50 day MA. It closed just under that line but the chart says the $NIKK will rise next week. This, naturally, if Shanghai does not pull it down.
Frankfurt gained 333 points but closed within the body of yesterday’s negative candle. Wait a minute, $DAX closed above the 50 day MA and yesterday I had thought that when it closed under that line there was only imminent fall. Well, even the professionals cannot predict the markets and I am not one of them. The DAX did a super play here. Next week this thing will do a short squeeze.
Paris gained 142 points and well above its 50 day MA. I think this is a consipiracy of some sort. Europe is being defiant. The $CAC seems to be following in the foot steps of its neighbour cousin German.
London did something funny. Yesterday I thought that the $FTSE was on its way down. But lo and behold, today, it went up. The chart which was showing that it was going down now shows something like “let me think about this for a bit, do I really want to go down or go up?” Roller-coaster kind of thing.
Toronto gained 143 points. It is just so close to the 200 day MA and we are so close. The $TSX is oil heavy (banks and insurance companies plus many others). If it keeps showing this kind of chart, I might move back to Toronto.
Dow Jones Industrial Jones is the Chart of the day. Oh my…look at this beauty. It pierced through its 200 day MA and closed above it. Hallelujah praise the Lord. I tell you, the $INDU looks awesome and this means great things for the rest of the world. Well, the DOW rules.
Standard and Poor pierced through its 200 day MA and closed above it. Prayers do get answered. The $SPX is a big signal. We are entering a bull market (more buyers than sellers).
NASDAQ gained 86 points and ended on a positive note. It is a follower. It is still way above its support (the 50 day MA) but still way below its resistance (200 day MA).
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Martha Leah Nangalama
The writer has an IT background with an oil company and a business background with a hospitality company.
All my opinions are mine and mine alone.