Silver closed lower on Wednesday as it extends the decline off last week's high. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bearish hinting 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 resumes this summer's rally, the 75% retracement level of the aforementioned decline crossing is the next upside target.