Silver just hit a record high but a double‑top signals pullback!

After a strong rally to new records spurred by safe-haven demand and new entrants, silver is now testing critical support levels near $47‑$48 amid the recent Gaza ceasefire news, forming a classic double‑top pattern that may turn into a long-term Cup & Handle that could place price action in a handle pattern for the years to come.

🔑 Key Drivers (Silver‑focused)
Technical breakout: Price breached $51, approaching the 161.8 % Fibonacci level at $47.50.
Double‑top formation: A clean double‑top suggests a near‑term correction could be on the way.
Support zone: The $47‑$48 area acts as the next major support; a break below could open the door to $45‑$46 levels.
Fibonacci retracement: The 61.8% retracement sits around $49.30, providing a potential bounce point before any deeper pullback.

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