Silver closed lower on Friday following Thursday's key reversal down and closed below July's uptrend line crossing confirming that a top and short-term trend change has taken place. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends Friday'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.
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