Silver closed higher on Wednesday as it extends the rally off February's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this rally, the 75% retracement level of the December-February 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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