Chart of the Day - Friday, May 15th, 2020
May 15, 2020
Today’s Chart of the Day was shared on Twitter by Louis (@huamicharts). It's a daily candlestick chart of the Silver Miners ETF, $SIL over the past six months. The breakout in Gold Miners ($GDX) over the past few weeks has been impressive. As Louis points out, Silver Miners are now joining the party, with $SIL gapping above a key resistance level around $33 today. The chart in the bottom right shows that $SIL has been exhibiting strength relative to the broader market ($SPY), over the past couple of months. If $SIL can remain above that $33 level, the risk is to the upside. However, if $SIL can't hold above this level, watch out below!