Silver- Daily technical Forecast

By IBTimes Staff Reporter | July 20 2010 2:16 AM

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Silver closed lower on Monday as it extends the decline off June's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging but turning bearish again signalling that sideways to lower prices are possible near-term. If it extends the decline off June's high, June's low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a low has been posted.

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