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Silver closed higher due to short covering on Monday as it consolidated some of last week's decline. The mid-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target.