Silver closed higher on Wednesday and above the 50% retracement level of the December-February decline crossing. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are becoming overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off February's low, the 62% retracement level of the aforementioned 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.