Uganda shilling and global market report – September 16, 2016


The Uganda shilling closed at 3373 on the US dollar, 4385 on the British Pound, 3763 on the Euro, 50.28 on the Rupee, 33.34 on the Kenyan shilling, 2553 on the Canadian dollar, 2527 on the Australian dollar and 1.55 on the Tanzania shilling.  That shilling is being very resilient but I will not be caught up in this fiasco and not buy it or short it.  The movement is in a very tight range but my bet is still on the downside.  Support still remains at 4000 and resistance is at 3350.

Coffee Arabica closed at $3.64 per kilo.

Coffee Robusta closed at $2.13 per kilo.

Gold is trading at $1310 after losing $7 today.  Then the markets should be going up.



Shanghai was none changed by closing time but its chart is interesting.  It has managed to hold under its key support (the 50 day and 200 day moving averages).  It has a bit of support but looking very bearish.  The chart says it all.

Hong Kong did not even bother to get out of bed.  This is one of the most boring indices to watch.

Tokyo gained 114 points which is nothing for the Nikkei.  It is still in bear territory.


Frankfurt lost 155 points.  Ouch!  The DAX is looking bad for those who go long but rather beautiful for shorters.

Paris dropped in a way that is too bad for those who buy and hold.  It lost 41 points.  It is not the loss that matters, this chart looks like the CAC will fall more.

London lost 20 points and I can bet it is going to recover faster than the DAX and CAC.  The FTSE has been playing psychological games and I think it will shake out some more weak hands.  Its chart shows recovery in progress but it did not even fall hard at all.


North America:

Toronto tried but still closed 53 points lower but not signalling strong bear signals so we might want to just watch the TSX because where it is sitting now, it could go up or down.

Dow Jones Industrial Average lost 89 points and it is trying to recover.  At this point, it is still in bear territory but could flip up so staying on the sidelines is not a bad idea.

Standard and Poor lost 8 points and formed the same pattern as the DOW so the same advice applies.

NASDAQ lost 5 points but it is on a move to the North Pole.  The COMPQ has excellent support and no resistance in sight so this one could fly.


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Martha Leah Nangalama

Moncton, Canada

Twitter: @mlnangalama

I have an IT and Business background and no financial planning training.  All my opinions are mine and mine alone.

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