SaxoTV

#saxostrats - Golden opportunities for selling

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April 07, 2015 #saxostrats, comm, commodites, commodities, commodities gold, commodities markets, commodities prices, commodities supply, commodities trading, commodities”, commoditiies, commodity, commodity corner, commodity currencies, commodity gold, commodity index, commodity investing, commodity investments, commodity market, commodity markets, commodity outlook, commodity prices, commodity sector, commodity strategy, commodity trade, commodity trading, commodity trading', commoditymarket, gold, gold bars, gold bonds, gold bullion, gold buy, gold buying, gold commodities, gold commodity, gold confidence, gold demand, gold dollar, gold down, gold exchange, gold falls, gold future, gold investing, gold investment, gold levels, gold long, gold low, gold market, gold mining, gold predictions, gold price, gold prices, gold resistance, gold sell, gold spot, gold supply, gold support, gold trade, gold trading, gold trading levels, gold us, gold warning, golden, golden opportunity, goldilocks, goldman, goldman sachs, goldprice, goldpricetrend, metal, metals, ole hansen, saxo tv, saxostrats, tradingfloor.com
Saxo Bank's Head of Commodity Strategy Ole Hansen has spotted a trade in Gold after the precious metal recovered back above 1200 following another failed attempt to break below 1150 back in March. 

The move higher has been triggered by weaker than expected US economic data which has put backward the timing of the first US rate hike. Hedge funds held a near record short futures positions ahead of this latest rally and with ETP holdings continuing to see a reduction the main driver seem to have been short covering.

Ole is looking to sell gold ahead of the resistance zone between 1225 and 1232 with a downside target of 1195.