/
 
Silver closed higher due to short covering on Tuesday as it consolidated some of Thursday's decline but remains below the July-August uptrend line crossing. The high-range close set the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends Thursday's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the near-term bearish outlook.