Spot Silver May Trade With Bullish Bias

 | Jul 15, 2013 06:39AM ET

Silver closed lower on Friday and the midrange close set the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below Monday's low crossing would confirm that a short term top has been posted.