Silver closed sharply lower on Wednesday and below the 10-day moving average crossing signalling that the corrective rally off December's low has ended. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish with today's sharp decline signals that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it renews this month's rally, December's high crossing is the next upside target.