Business

Uganda shilling and global market report – October 21, 2016

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The Uganda shilling closed at 3437 on the US dollar. This shilling is ripe for shorting. Last year around this time, it was around 2500 on the USD. If you wanna play it, the pair is UGX/USD. The chart is ugly.

It has resistance at 3425 (minor) and 3400 (major).  Support is 3475 and 3500. The one at 3450 is minute.  I want this shilling to crash more. Hey, I send money to Uganda.

Gold is at $1264 with no movement. Awesome. Means the markets are steady.

Brent closed at $51.94 after gaining $0.53 per barrel. What a fantastic set up for a put or short.

WTI is similar to Brent.

GLOBAL MARKETS

Shanghai gained 6 points. Perfect set up for a call or long.

Australia lost 12 points. This one is definitely going south.

Tokyo lost 51 points but oh my! Is the Nikkei ever bullish. Gonna order sushi now.

Toronto gained 91 points and way above resistance. The TSX is on fire.

Dow Jones Industrial Average lost 17 points. Damn elections.

Standard and Poor did not move.

Nasdaq gained 16 points. The COMPQ is strongly bullish but has some resistance to strike through. I think it will do it but its cousins are looking a bit sick.

GLOBAL NEWS

Well, would you just believe that some people killed some more people today?

You can check out our world news. http://www.theinsider.ug/category/world-news/#.WAqcrcrMbqA

The other option is to follow me on Social Media.

Martha Leah Nangalama

Moncton, Canada

Twitter: @mlnangalama

I write for the Business section for The Insider. All my opinions are mine alone.

 

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