Silver closed sharply lower on Friday and below May's low crossing as it extends this week's decline. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the 38% retracement level of the 2008-2011-rally crossing is the next downside target. Closes above the 20-day moving average crossing would temper the near-term bearish outlook.