Silver closed lower due to profit taking on Thursday as it consolidated some of the rally off June's low. The midrange close set the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near term. If it extends the rally off June's low, the 50% retracement level of the September-June decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a short term top has been posted.