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Gold closed higher on Tuesday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this rally, March's high crossing is the next upside target. Closes below the 10-day moving average crossing would confirm that a short-term top has been posted.

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Silver posted an inside day with a lower close on Tuesday as it consolidates some the rally off February's low. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. If it extends this rally, the 75% retracement level of the December-February decline crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.