Silver closed lower on Tuesday as it consolidates the rally off last week's low. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends the aforementioned rebound, this month's high crossing is the next upside target. Closes below the reaction low crossing would confirm that a short-term top has been posted.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.