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O'Hare: Greece and Gold - why I'm setting shorts

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July 03, 2015 commodites, commodities, commodities gold, commodities markets, commodities prices, commodities supply, commodities trading, commodities” russia, 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, commoditymarket, gold, gold astonish, gold bars, gold bonds, gold bullion, gold buy, gold buying, gold commodities, gold commodity, gold conditions, gold confidence, gold demand, gold dollar, gold down, gold drop, gold etf, gold exchange, gold falls, gold future, gold investing, gold investment, gold iran, gold june, gold levels, gold long, gold low, gold market, gold mining, gold predictions, gold price, gold prices, gold resistance, gold sell, gold selling, gold short, gold shutdown, gold spot, gold supply, gold support, gold trade, gold trading, gold trading levels, gold us, gold warning, gold yellen, golden, golden opportunity, goldgold, goldilocks, goldman, goldman sachs, goldman sachs earnings, goldman sachs q1 results, goldman sachs results, goldprice, goldpricetrend, gold”, gree, greece, greece crisis, greek crisis, metal prices, metals, metals business, safe haven, safe haven currency, safe haven gold, safe havens, safety, saxo tv, silver, trading, tradingfloor.com, usd, usd index, usdcad, usdchf, usdeur, usdgbp, usdjpy, usdjpy'
Steve O'Hare is setting shorts in Gold based on his assessment that the market will move lower in coming weeks.

Steve says: "Despite the turbulence in financial markets, as a result of the Greek issues, Gold has not rallied in line with its usual safe haven status.  Rallies continue to be sold into and prices have trended lower and and currently target the upward trending support line based from November, March and June lows."

Steve is setting shorts at current levels 

In the event of a break below 1150:
Targets: USD 1131 (2014 low) & 1100 (bottom of the wedge)

Stop: USD 1205