Wednesday, August 31, 2016

#Uganda shilling and global market report - August 31, 2016 #MoneySense #Stock

The Ugandan shilling closed at 3370 on the US dollar, 4429 on the British pound, 3760 on the Euro, 50.31 on the Rupee, 33.28 on the Kenyan shilling, 2571 on the Canadian dollar, 2534 on the Australian dollar and 1.55 on the Tanzania shilling.
Coffee Arabica closed at $3.57 per kilo.
Coffee Robusta closed at $2.01 per kilo.
Gold is at $1310 per ounce and lost $2.00. Great news for the markets as no once seems to be flying into safety.
Brent Crude Oil closed at $47.01 per barrel after losing $1.71.  Oh gosh, oil is really going down.  It just bridged a support line.  Short it.
WTI Crude Oil closed at $44.70 after losing $1.65 per barrel. Short it.
I have been hinting at oil dropping but one can never be sure.  It is going to get bloody and we will see in the near future.  Oil has crashed through support and buying it now would be like, how much money do you wanna lose?  If you are really conservative, just do not buy.  If you are a risk taker, now is the time.
Shanghai gained 11 points.  The SSEC moves gracefully and is not going to go down.  I would go long on this one or stay on the side.
Hong Kong hardly got out of bed. Meaning it did not move. 
Tokyo gapped up and gained 162 points.  The Nikkei moves a lot more than this so this is nothing to get excited about.
Frankfurt lost 65 points but the chart still says it will move up.  Germany has been very strong despite all the attacks.  I have not seen anyone get attacked as much as Merkel besides Obama.  Germans are focused. One day the world will remember that Germany took in the biggest number of refugees during a crisis.  Thank you.
Paris lost 19 points but it is also strong and going up.  Go ahead and attack France but this country is very resilient.
London lost 39 points and looks like it is a short.  However you wil all remember how BREXIT freaked out people and the FTSE climbed higher.  The volume on these minor pull backs is not convincing.  I think it is just profit taking.
North America:
Toronto lost 88 points.  The TSX is oil heavy and its chart looks like it will go down with oil.
Dow Jones Industrial Average lost 53 points and is still stuck in this double cup.  It did bounce off the 50 day moving average (MA) so it might survive.  However, its chart is signaling a good short except with everything going on in the world, it could break above resistance and go up.  I would personally short it or stay out.

Standard and Poor lost 5 points and is sitting like the INDU (Dow Jones Industrial Average) so follow advice above.
NASDAQ lost 10 points and it has been topping out for a while now.  It is a good short given that the above 3 indices are kind of leaning towards falling.
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Martha Leah Nangalama
Moncton, Canada
Twitter @mlnangalama
I have an IT and Business background.  I write for The Insider the business section and special reports. 


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