Reversal Ahead For StreetTRACKS Gold Shares (NYSE: GLD)? Asks Market Timer Frank Kollar
March 29, 2007
Shares of StreetTRACKS Gold Shares (NYSE: GLD) have reached a strong resistance level that is very likely to reverse the current upturn in gold.
The $66.14 retracement resistance level is only nine cents away from Wednesday’s close in Gold Shares at $66.05 . If shares do reverse here, expect them to retest the $63.00 level in coming days.
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Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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