Silver closed lower due to short covering on Monday as it consolidated some of this week's rally. The low-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI are turning neutral to bearish again signalling that additional weakness is possible near-term. If it extends this month's decline, the 87% retracement level of this year's rally crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.