Silver Strikes Back ๐ The Daily Chart Report
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Todayโs Summary
Monday, June 2, 2025
Indices: Nasdaq +0.71% | S&P 500 +0.41% | Russell 2000 +0.19% | Dow +0.08%
Sectors: 10 of the 11 sectors closed higher. Energy led, gaining +1.31%. The only sector that fell was Industrials, but only slightly, by -0.13%.
Commodities: Crude Oil gained +2.85% to $62.52 per barrel. Gold rose +2.47% to $3,397 per oz.
Currencies: The US Dollar Index dropped -0.74% to $98.71.
Crypto: Bitcoin is currently flat at $105,605. Ethereum is down +1.62% to $2,581.
Volatility: The Volatility Index fell -1.13% to 18.36.
Interest Rates: The US 10-year Treasury yield rose to 4.442%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Sam Gatlin (@sam_gatlin).
- Silver surged +5.8% today, marking its best day in over a year. Itโs only Monday, but futures are on pace for their highest weekly close since 2012.
- Sam notes that Silver is testing key resistance at $35/oz, which aligns with the 61.8% Fibonacci retracement of the decline from 2011 to 2020. Silver has failed here several timesโtwice in 2012, and more recently in October and March.
- A decisive breakout above $35/oz could send Silver to all-time highs near $49/oz. Returning to all-time highs would complete a 14-year base and unlock significantly more upside.
The Takeaway: Following its best day in over a year, Silver is testing a potential inflection point at $35. A successful breakout would set the stage for all-time highs and complete a 14-year base.
Quote of the Day
"One glance is worth a thousand earnings forecasts. The tape tells all, and our job is to learn how to listen properly."
- Stan Weinstein
Top Links
A View from the Floor with Jay Woods, CMT - Freedom Capital Markets
Jay Woods highlights several noteworthy things to watch this week.
From Ice to Nice: The Marketโs in Spring Training๐ธ - The Daily Number
Grant Hawkridge breaks down the various stages of the breadth cycle.
Microsoft & The AI Race - Don's Dividends
Donovan Jackson points out that Microsoft ($MSFT) is outperforming its peers.
Breadth Metrics Typical of a Market Low thatโs Set and Hard to Breach - CNBC
Jeff deGraaf shares his thoughts on the current market environment.
Understanding What Happens at All-Time Highs - Trader Mindset
Michael Martin discusses the trading psychology behind all-time highs.