I’m not buying more gold right now — not at these levels. I own it, and I’m sitting on solid gains. But if I’m looking to add exposure in the metals trade, silver’s the one that’s catching my eye.
I picked up some fresh SLV shares last week. I’ve got three buy zones mapped out: around $29, $27 and $23.50. Those correspond to my levels on SLV, and I’m happy adding at all three.
This isn’t a quick flip — I’m building a position I want to hold.
If silver can break above $35, it opens the door to a measured move toward $41. And if we get some real momentum — which I think we could — I’m targeting a wave five move into the $45 to $50 zone. That’s a 35% to 40% move on the underlying from here.
Still Room to Load Up
I like the technical structure and the way it’s coiling for a bigger push. Compared to gold, silver’s a better technical trade right now.
Gold may still grind higher, and I’m not selling my positions — GLD is already up over $22,000 and PHYS another $4,300. But I’m not adding more until we get a decent pullback toward the 100-, 144- or 200-day moving averages.
Silver’s different. It still has open space above. It just needs to break resistance. When it does, I want to be there — loaded and ready.
This is one of the cleaner swing setups I see right now. And in a year where gold, silver and Bitcoin are all working, I want to make sure I’ve got enough of the one that hasn’t quite taken off yet — but looks like it’s about to.
I’ll see you in the markets.
Chris Pulver
Chris Pulver Trading
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P.S. Is America Days Away From Economic Shock?
Did you see this headline from the Economist?
What “economic shock” are they talking about?
Well, it’s coming next Thursday… and it’s why I’m joining a LIVE roundtable panel with six other experts at 1 p.m. ET on Wednesday to help you prepare for it.
Spots WILL be limited, so please RSVP here if you want to join us.
I’ll sit down with Kane Shieh, Roger Scott, Lance Ippolito, Nate Tucci, Graham Lindman and Jeffry Turnmire — what a group! — to bring you…
- Our expectations for where the markets will go after Thursday’s critical economic news.
- Our top stocks and markets to watch in the aftermath.
- Some LIVE, actionable trade ideas that you can take home (or even place in your accounts, if you’re so inclined).
Plus, I’ll debut my BRAND-NEW scanner, and a few stocks that I think are in “GO” zone right now!
Naturally, I cannot promise future returns or against losses, but… I haven’t been this excited for a market opportunity in a LONG time, so I hope you’ll join us!
You’ll even score a FREE watchlist from me…
