Silver closed higher due to short covering on Tuesday and above the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible near-term. If it renews the rally off February's low, the 75% 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.
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