Technical Update - Metals facing larger corrections. Here are the levels to which Gold, Silver, Platinum and Copper can sell off

Silver XAGUSD has formed a double top pattern.
Potential downside target: As a rule of thumb, the price should come back down to the base prior to the build-up, i.e., at around 26. However, the target performance often reaches less than that. Measuring the distance from the top to the valley of the double top pattern and subtracting that from the breakout price, i.e., the valley, indicates a downside potential to 27.57, as indicated by the two vertical arrows.

However, a sell-off could be cut even more short; the 0.618 retracement of the April to May uptrend is at 28.50. Almost exactly the same price as the 1.618 projection of the double top pattern (28.52).

If silver is closing back above the right top, i.e., above 32.30, the uptrend is likely to resume, and the pattern is busted. If closing back above the valley, i.e., back above 30.05, the bearish scenario is busted.

Platinum XPTUSD got hit by heavy selling after reaching the 0.618 retracement at 1,066 and is currently trading around the support area 1,015–1,000.
If closing below 1,015, further selling could be seen down to the 0.618 retracement at 974.50. The 55 daily moving average is adding to the support.

If closing back above 1,015, the uptrend is likely to resume. The RSI is still showing positive sentiment with no divergence, indicating platinum is likely to trade higher after a correction.
However, if RSI is closing below 40, that potential bullish scenario is cancelled.

Copper is breaking below the 0.618 retracement at 460.80 and seems destined to drop lower to the stronger support at around 446.

If RSI, which is still showing positive sentiment but also divergence, is closing below the 40 threshold, the bearish move is likely to continue.
A daily close below 446 could fuel further selling pressure down to the 0.618 retracement at 424.40.

If closing back above 470, copper is likely to resume uptrend