Silver closed higher on Thursday as it extends the trading range of the past month. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it renews the rally off June's low, the 62% retracement level of the April-May-decline crossing is the next upside target. If it renews the decline off this month's high, the reaction low crossing is the next downside target.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.