Silver closed higher due to short covering on Thursday as it consolidated some the decline off last week's high. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If it extends Wednesday's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
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