Silver closed lower due to profit taking on Wednesday as it consolidated some of this week's rally. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. Closes above last Tuesday's high crossing would confirm that a low has been posted. If it renews last week's decline, the reaction low crossing is the next downside target.
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