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  • Press Releases From The FibTimer Stock Market Timing Services    

Streettracks Gold (NYSE: GLD) Nearing Resistance Says Market Timer Frank Kollar

November 25, 2009 (FinancialWire) (By Frank Kollar)

Shares of Streettracks Gold (NYSE: GLD) have pushed above resistance at $109.04 and closed at $114.73 on Tuesday, November 24.

When an advance is so extended that it begins hitting new highs nearly every day for weeks at a time, you have to start looking for a resistance level that will result in a reversal.

The next resistance level is the 161.8% retracement for the 2008 gold decline. This places the most likely price for a reversal, and the target for this rally, up at $119.98.

In the case of Streettracks Gold, many resistance levels have fallen by the wayside in the last few months and the potential for continued emotional highs, or even an emotional retracement, is always present.

Kollar is editor and chief analyst at ( 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.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Go to previous Press Releases & Trading Notes.

Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.

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FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.

Disclaimer: The financial markets are risky. Investing is risky. Past performance does not guarantee future performance. The foregoing has been prepared solely for informational purposes and is not a solicitation, or an offer to buy or sell any security. Opinions are based on historical research and data believed reliable, but there is no guarantee that future results will be profitable.

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