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Silver closed lower due to profit taking on Wednesday as it consolidates some of this week's rally. The mid-range close sets the stage for a steady opening on Thursday. If it extends this week's rally, the reaction high crossing is the next upside target. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Closes above resistance or below support crossing are needed to confirm a breakout of this summer's trading range.