Silver closed lower due to profit taking on Thursday as it consolidated some of the rally off February's low. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off February's low, weekly resistance crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
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