Silver closed lower due to profit taking on Thursday as it consolidates some of the rally off this month's low. The mid-range close set the stage for a steady opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews this month's decline, the 87% retracement level of this year's rally crossing is the next downside target.