Sign up today to be the first to receive our exclusive Uranium report and our 3 top picks for 2019 and beyond
Click Here to Sign Up for Our Uranium Report

Patrick Karim: Next Steps for Silver are $27 and $58, Trade of a Lifetime

Tom welcomes Patrick Karim back to the show to discuss his latest charts on silver. Patrick is a proprietary capital manager and chart trader.

Patrick is cautiously optimistic about precious metals and, in particular, silver. He says, “We are at a deciding point, and we could go either higher or lower.” The risks to the downside for silver are quite low since it has been so unloved. We could have a nice move higher for silver once most of the weak hands have been shaken out. Patrick says, “It’s likely go time for silver.”

He discusses several charts on silver and the miners and why an explosive breakout is entirely possible. He expects a bullish period and cautions investors to avoid listening too much to the echo chamber. It’s essential to have tools and techniques to filter out the noise and make sound decisions. He gives some suggestions for selling once we get a specific distance above the fifty-day moving average.

He expects to see $31 by early next year, and then there is potential for higher prices into the $58 range.

Patrick thinks we may have already broken out of the long-term bear trend. Everything shows potential, and silver will move very quickly higher once we break above $19 to $20.

Time Stamp References:
0:40 – Coping with the new bull market.
6:30 – Chart 1 – Dow vs. Silver.
11:40 – Chart 2 – SIL.J Junior miners daily
16:15 – Chart 3 – Spot Silver Daily
22:15 – Chart 4 – Silver Yearly Masterpiece
27:15 – Chart 5 – Silver Futures

Talking Points From This Episode

  • Charts are showing a positive setup for silver.
  • Strategies for avoiding excessive hopium.
  • Potential to reach $31 by early next year.
  • Signs of a technical breakout.

Patrick Karim is a proprietary capital manager and chart trader since 2006. Patrick’s background in commerce, psychology, and an ongoing career in systems engineering has allowed him to achieve a systematic approach to evaluating trading scenarios.

His psychology background helps him understand the human factor, ex: overcoming stress, which is mostly responsible for maintaining a successful career.

Guest Links:
Youtube channel: https://www.youtube.com/patrickkarim
Twitter: https://twitter.com/badcharts1
Stocktwits: https://stocktwits.com/badcharts
Website: http://badcharts.com/
Goldtent: https://goldtadise.com/

Sign Up For Our 2019 Uranium Report
Sign Up For Our Newsletter