Silver closed higher due to short covering on Monday but remains below the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signalling that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it renews the rally off February's low, the 75% retracement level of the aforementioned decline crossing is the next upside target.
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