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Will Silver Break Out? Is Triple Digit Silver Still on the Cards?
With so much volatility in the #silver market, we ask the question – What on earth is going on with silver?? Patrick Karim of NorthStarBadCharts.com joins us on today’s edition of GoldCore TV to give us his predictions for the silver price.
Patrick looks at long-term and short-term patterns in the silver market and suggests that the sideways consolidation will continue until silver’s weekly charts show an uptrend and that until we see a weekly uptick, there won’t be a confirmed #breakoutforsilver.
His point and figure charts for silver are also very bullish in the long run. He also believes that every time gold reaches a new high, silver eventually follows, so as he puts it – “It’s only a matter of time”.
Using the logarithmic scale technique, he illustrates how silver can reach triple-digit prices.
The gold-silver ratio, according to Patrick, is a leading sign of a pending market crash. When the US dollar, #goldsilverratio, and VIX all rise at the same time, it indicates that consumers are preferring gold even as gold prices fall, leaving all other riskier assets behind.
He also gives us his opinion on cryptocurrencies and presents his monthly Bitcoin log scale charts.
Visit https://www.northstarbadcharts.com/ to discover more about Patrick’s services.
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00:55- Downtrend in Silver Continues
02:38- Silver Monthly Chart Analysis
10:15- Silver’s 2- day Point and Figure Chart
14:30- Silver Weekly Chart Analysis
15:41- Technical Analysis on Gold
20:06- Is Triple Digit Silver Still on the Cards?
23:50- Market Crash Leading Indictor
26:36- Stock Market Index Charts
30:52- Technical Analysis for Cryptocurrency
34:38- Parting thoughts
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Disclaimer: Videos published are not investment advice and the views expressed may not reflect those of GoldCore ltd.