Gold & Silver ETF Price Update

Senior Technical Analyst
February 11, 2015

GLD DAILY - We are on day 26 (trading days) from the previous daily cycle low, they average 25 days, so we should be close to a bottom.

gld

-SLV DAILY- Price broke down out of the bear flag as expected, either Gold bottomed or we will in the next day or two.

GDX DAILY- Price, broke down out of the triangle but recovered slightly, the next day or two will be very telling.

GDXJ DAILY- Price is forming somewhat of a flag pattern, as with GDX we will know more soon.

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Pierce Wellington is the Senior Technical Analyst and a head trading consultant. After making unwise decisions early in his trading career, he developed a passion for Education, Technical Analysis and Trading Discipline. He has successfully traded the Gold and Silver markets for over a decade and is a Chartered Market Technician (CMT).

10 karat gold is 41.7% pure gold.

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