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In this urgent market update, we dive straight into the massive correction in the precious metals sector. Silver has plummeted 40% from its recent peak, hitting an overnight low of roughly $71.50. But was this specific price point a coincidence? Absolutely not.

I break down exactly why the charts predicted a bounce at this level, utilizing technical analysis to identify a "floor" created by candle bodies and a convergence of key Fibonacci retracement levels—specifically the 61.8% short-term retrace and the 50% retracement from the major April 2025 lows.

While we are seeing a technical bounce, the danger is far from over. We discuss the psychology of "trapped buyers"—those who bought at the highs and are waiting to sell at breakeven—and why this overhead supply could cap any rallies. I also lay out the worst-case scenario: a potential flush down to the $50-$55 range if current support fails.

Beyond Silver, we analyze the Gold chart, which just tagged a multi-year trendline support, and identify buy zones for Platinum and Palladium. Finally, I share a critical lesson on trading psychology: why "get rich quick" leverage blows up accounts, and how patience is the true driver of lasting wealth.

Video Length: 00:12:28

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