Chart of the Day - Wednesday, July 24th, 2019

Today's Chart of the Day was shared on Twitter by Dana Lyons (@JLyonsFundMgmt). It's a weekly candlestick chart of the iShares Silver ETF, $SLV, breaking out of a long-term downtrend. After taking a beating over much of the past decade, Precious Metals are finally catching a bid. Both Silver and Gold have surged over 11% in the past three months to new multi-year highs. We've been seeing Silver begin to outperform Gold over the past few weeks. Precious Metals bulls want to see continued outperformance from Silver, as it would be a sign of risk-appetite in the Precious Metals market. For more on what some of the top-technicians are saying about Silver right now, check out our newest report "The Silver Lining".