The Uganda shilling closed at 3355 on the US dollar, 4748 on the British pound, 3726 on the Euro, 33 on the Kenyan shilling and 2513 on the Canadian dollar.
I like the stability on the shilling given all the turmoil in Uganda. Do remember that it has lost some sh. 1000 on the US dollar in the last year.
Coffee Arabica closed at $3.23 per kilo.
Coffee Robusta closed at $1.65 per kilo.
Do you notice that coffee prices are creeping up slowly? Ever so very slowly. Coffee is traded in container loads so every $0.05 per kilo makes someone big money. Uganda should improve their international marketing efforts to capitalize on the world prices for this one.
Gold closed at $1233 per ounce after gaining one dollar. The equities and commodities are improving so we should see gold and its cousins silver and other metals take a breath.
Oil (Brent Crude) fell $0.80 and closed at $38.92 a barrel. The daily chart says we are going to see a pull back. I guess after a nice rise, people are taking some profits off the table. I would not panic as the weekly chart says we are going up. Just survive the minor pull back. Short term traders tend to pull out with the daily chart but long term investors look at the weekly chart and go “that is nothing to write home about”.
Shanghai gained 5 points. This one is an interesting chart. The $SSEC had signaled that it could dive down but interestingly, it is not. It is just taking a pause and I think it will go up. That is based on the daily chart. The weekly chart shows that it is on its way up. Just a minor down here and there but in the end, Shanghai is going up.
Hong Kong lost only one point forming a down ward indicator on the daily chart. However, on its weekly chart it shows that it is also going up. Hey, Hong Kong is part and parcel of Shanghai so there you go.
Tokyo lost 117 points and its daily chart still shows that it is not turning back. It is on its way up. The $NIKK lost many points but its weekly chart now shows that it is rising. Hallelujah! We need those Japanese cars and gadgets.
Frankfurt lost 56 points. Both the daily chart and weekly chart show that it is going up.
Paris lost 34 points. The daily chart is signalling a fall. The weekly shows that it is going up. It was likely just basing as some profit takers took some money off the table but the $CAC is going up for sure.
London lost 35 points. The daily week chart says that it is going to pull back a bit. The weekly chart shows that it is going to rock upwards. The 50 day MA just crossed with the 200 day MA today and this is a beauty. The $FTSE will definitely go up God willing. Only a natural disaster will stop this one. This is the chart for today (the weekly) and you will see where the lines cross. This is great.
Toronto lost 77 points. The daily chart says DOWN. The weekly chart says up but it backed off the 50 day moving average so I would be apprehensive about this one.
Dow Jones Industrial Average gained 22 points and still held above its 200 day MA on the daily chart. The weekly chart says it is going up. It touched the 200 MA on the weekly chart and did not break above it but very close to it. The $INDU will pull the others up. We can assume that all the short sellers have been squeezed out of the market and now we are seeing real buyers. I will get into the Short Squeeze soon if I have not done so in the past.
Standard and Poor lost 3 points and backed down from its 200 day moving average on the daily chart. It is going down a tiny bit. Now on the weekly chart, it is showing strength of moving up and breaking through its current resistance at the 200 day MA. My goodness, the $SPX is going to pull everyone up whether they like it or not.
NASDAQ lost 22 points and the weekly chart says we are going to take a pause. The weekly chart says it is going up.
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Martha Leah Nangalama
The writer has an IT and business background and has traded equities, mutual funds, options and forex in the past.
All my opinions are mine and mine alone.