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Patrick Karim, technical analyst at Technical Traders Ltd, observes that higher probability setups are visible on the oil chart while they are absent on gold and silver charts at present.
Karim emphasizes that building such setups takes time and that traders seeking these opportunities should currently look to oil rather than precious metals.
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Earlier this year, Karim projected that crude oil could see a generational move, outlining price targets of $200, $300, and $400 per barrel in his analysis at Technical Traders Ltd. He also highlighted a chart suggesting the financial sector should watch for crude oil’s potential path toward $300 per barrel. These earlier projections frame his current view that oil presents stronger trading setups than precious metals.