Silver posted a key reversal down on Wednesday as it consolidates some of the rally off July's low. The low-range close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI are diverging but remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off June's low, the 75% retracement level of the April-May-decline crossing is the next upside target. Closes below the 20-day moving average crossing would temper the bullish outlook.
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