Silver closed lower due to profit taking on Wednesday as it consolidated some of the rally off this month's low. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. Closes below the 10-day moving average crossing would temper the near-term friendly outlook.
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