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Silver Traps Ahead? The $800 Roadmap Explained by a Top Chart Analyst

SILVER TRAPS AHEAD?

Patrick Karim of Northstar Badcharts joins GoldCore TV to walk Dave Russell through what the charts are saying about gold and silver right now, and why silver may remain full of traps in the short term even as the long-term outlook stays extremely bullish.

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After one of silver’s most volatile periods in recent memory, Patrick explains why the metal may still be in a corrective, range-bound phase following a roughly 26% drawdown and an almost 50% drop from peak to trough over just a couple of days. His message is clear: long-term bullish does not automatically mean short-term bullish.

In this interview:
Why silver is still “floating in free air” and why that matters

Why Patrick sees the current setup as a potential “wasteland of traps” until lower timeframes improve

The price levels he wants to see before turning bullish again on the daily chart

Gold’s chart setup and what would need to happen to open the way toward the $6,300 to $6,800 range

The “Capital Rotation Event” and why he expects a major shift out of stocks and into hard assets over time

Why silver rarely forms clean V-shaped recoveries after major peaks

The yearly silver breakout, the cup-and-handle pattern, and why Patrick still sees a long-term target above $250 on a yearly close basis, with possible overshoots higher intra-year

Patrick also shares his much bigger-picture view: that the strongest years for commodities may still lie ahead, with silver, gold and oil potentially entering a major outperformance phase relative to equities.

As Patrick puts it:

“Bullish is when you're above moving averages going up. When you're going sideways, you're agnostic... not bearish.”

Learn more about Patrick Karim's work at: https://northstarbadcharts.com/

Patrick's X account link: https://x.com/badcharts1

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Ireland - https://www.GoldCore.ie

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