The Uganda shilling is depriciating as I had hoped. I even prayed for it to crash. There is a God afterall. A weak shilling is good. Resistance is now firm at 3400 and support is 3500.
Gold is $1265 and gained $1 per ounce.
Brent Crude Oil gained $0.46 and closed at $52.12 per barrel.
WTI Crude Oil gained $0.35 and closed at $50.29 per barrel.
Oil is stalling. It hit resistance in the neighbourhood of $53 per barrel and then feared to climb. Those who follow my business reports knew this. Oil is now set up for shorting. I am not trading it but own a few shares. If I were actively trading oil, I would take out 50% of current holdings and use that to go Short. Option traders might consider selling Puts around this time. I would not sell Calls. In fact if you look at the Futures, they are being bearish.
Shanghai. Holly cow! It gained 43 points. I am falling in love with the SSEC. It is a nice play to go long or sell Calls. Shanghai moves very gracefully and this week would be a nice play on the bullish side.
Australia index gained 21 points but it is going south. Perfect Short setup or Put option.
Tokyo gained 63 points. This is nothing for the Nikkei but I am in love with sushi. It formed the perfect set up for going Long or selling Call Options.
Frankfurt gained 128 points. I would not move on the DAX. It is looking bullish but we have a serious resistance area ahead. I would not short it. Wait and watch would be safer.
Paris gained 57 points. The CAC looks like Frankfurt so the same applies.
London gained 53 points. I swear the FTSE will give people heart attacks. Everytime you think London bridge is falling, Big Ben Tower rings. It is very bullish yet does pullbacks. I would sit on the side but not liquidate or cover.
Toronto gained 156 points. The TSX has been resilient. It might be because we do not only rely on oil. Fighter jets, armoured vehicles and nebilala.
Dow Jones Industrial Average gained 76 points. It is not looking hot. Shorting more than long. Damn US elections.
Standard and Poor gained 13 points and also looks sick.
Nasdaq gained 44 points but is also sick. I would still not short it or liquidate long positions. These elections are distorting US markets. We are in a bull market and this is just to shake out weak hands.
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Martha Leah Nangalama
I have an IT and Business background. I am not a certified fnancial advisor but own oil shares and mutual funds. Decades of trading. Consult a professional before investing.