Pierce Wellington
Senior Technical Analyst
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).
Pierce Wellington Articles
Recently I authored an article whereby using technical analysis, I uncovered a potential Silver target of $300.00 an ounce. Since then I’ve been asked to investigate and support how Silver may get to such a lofty price…and or do I believe...
As you will see in the Gold Weekly Chart we are beginning week 16 of our weekly cycle, on average a weekly cycle lasts anywhere from 20 to 30 weeks (similar to daily cycles). This weekly cycle peaked at week 11 technically making this a...
As we approach the fourth year of an extended correction in gold, we must re-analyze where it is we’ve been and where we are likely to go. Frankly, we must ask the question is the Gold Bull Market over? By taking the emotions out of it and...
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.
For our Thursday report, I wanted to zoom out and take a 30,000 ft. view of Gold & Miners. Often we get wrapped up in the day to day wiggles and giggles, forgetting to take a deep breath, step back and occasionally reanalyze.
GOLD DAILY- As the below chart describes we should end the gold correction this week. Good support around the $1,240 level. Once we start heading higher, I will start looking for signs of a top. No divergences to note in the indicators at...
GOLD DAILY - As expected, we should see some chop, then a top. This may take several weeks. The $1,350 level should contain price and momentum for now. I’m looking for divergences to develop as a top forms. In the Example Portfolio (EP),...
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