Silver has formed a double top at 54.38/37 [Video]

Silver has formed a double top at 54.38/37.

• Downside room extends to the 50/55‑day moving average @ 48.53.
• A break of that support opens the door to a retest of the lows at 45.45.
• Daily indicators remain neutral, but the weekly charts are diverging and flashing a sell signal.
• The weekly 9‑period M/A continues to cap downside attempts — worth watching closely.

Positioning:

I’ve exited 3/4 of my physical silver (bought at 23.00 in 2020 — the joy of knowing a jeweller from 40 years ago). But I’m not convinced silver has topped longer term.

The psychology angle

Patience is the trader’s greatest asset.
Yet 99% of traders don’t have it.
Learning patience will be beneficial in the end — more than any single chart pattern or indicator.