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Why I’m buying gold: O’Hare
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Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading gold.
He is buying gold at current levels and a pullback to $1,245/oz and a break of $1,264/oz. The targets are $1,284/oz and $1,300/oz. The stop could be a break back below $1,225/oz. O’Hare regards this trade as over a one to two-week timeframe.
O'Hare’s technical analysis of a selected trade is featured every Thursday on Trading Floor.