Will Silver Lead the Metals Higher? π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by David Cox.
Silver broke out to fresh one-month highs today, decisively clearing its 50-day moving average.
Itβs also breaking out relative to Gold, reinforcing the broader βrisk-onβ move in metals, as Silver tends to be far more cyclical and growth-sensitive than Gold.
Meanwhile, Gold has yet to reclaim its own 50-day moving average, potentially setting up a catch-up move if the metals complex resumes its broader uptrend following the blow-off tops earlier this year.
The Takeaway: Silver is showing early signs that its corrective phase may be ending and could emerge as the leader in the next leg higher for metals.
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