The Uganda shilling closed at 3365 on the US dollar, 4760 on the British pound, 3762 on the Euro, 33.17 on the Kenyan shilling and 2542 on the Canadian dollar.
Coffee Arabica closed at $3.34 per kilo.
Coffee Robusta closed at $1.73 per kilo.
Gold closed at $1217 per ounce having fallen $5.20.
Oil (Brent) was unchanged. The daily chart shows that it might not fall much at all but maybe a tiny bit. The weekly chart still shows a strong momentum on the upside.
Shanghai fell 49 points and the daily chart indicates that it will fall some more. However, the weekly chart is on the up side.
Hong Kong fell 4 points but formed a pattern indicating more down side on the daily chart. The weekly chart still shows that it will go up. This fall is likely due to temporary profit taking.
Tokyo fell 109 points and it is approaching its 50 day MA. If it crashes through this support line, it might pull those hundreds of loss things that cause heart attacks. The next 2 trading days will show if the bullish momentum will hold.
Frankfurt lost 172 points. Ouch.
Paris lost 94 points and the chart does not look hot at all. It is approaching its support, the 50 day MA and the MACD is turning very bearish right now. This is our chart for today. Look at the red candle of today and how it is approaching the blue line (50 day MA support line). Then on the bottom you will see the MACD lines crossing each other indicating that we are heading down. Likely this one will pull down Frankfurt much harder too because they are kind of cousins.
London lost 93 points. Damn vengeful cousins pulling this one down too. The MACD on this one also shows more down side.
Toronto lost 23 points. Its MACD shows a downfall even if it the daily chart is hanging up there.
Dow Jones Industrial Average gained 13 points and it is still holding strong well above its 200 day MA. Remember that the $TSX (Toronto) crashed through that line already. Now, the interesting thing is while this $INDU remains strong, its MACD is signalling a pull back.
Standard and Poor was unchanged but it brushed its 200 day MA, tested it and backed off. I will likely crash through it next week when trading resumes in North America on Monday. The MACD has not crossed into negative territory yet but it is working on it.
NASDAQ gained 5 points. Now, isn’t this interesting. Usually the NAS is very sensitive but I guess people did buy tech gadgets. Its MACD is curving into negative territory though. Monday or Tuesday will tell. Monday will be a thin trading day in North America and thin volume leads to shake outs which do not really reflect a normal trading day so likely Tuesday will be a better judge.
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Martha Leah Nangalama
I have an IT and business background and have traded equities, mutual funds, indexed funds, options and forex in the past. All my opinions are mine and mine alone.