Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is trading the precious metal.

He is planning to sell a rally at $1,215-$1,220/oz, with a stop on a break of $1,250/oz. His targets are $1,170, $1,1150, and $1,125/oz.

O'Hare features technical analysis of a selected trade every Thursday on Trading Floor.