Price of silver in US Dollar (XAG/USD) has been rallying slowly but steadily since the end of the year, when price came down to 15.60. This week, price came up to but was held under 18.50. Price action is ending the week with a bearish signal.Silver (XAG/USD) Daily Chart 3/3(click to enlarge)Holding Back the Bull Charge:- Price action heading into this week was bullish.- The RSI tagged 70, and price pushed above the 200- and 100-day simple moving averages (SMAs).- Price also broke a falling trendline. - However, the 18.50 pivot area proved to be too strong.- After a few sessions of failing to break 18.50, bulls gave up. - Now, price has fallen back and has cracked a rising trendline.The Bearish Scenario:- Silver is at the crossroad. The rally since December provided some evidence that silver has turned bullish. - However, if we just look at bullish price action versus bearish price action, we can see that bearish price action has been more swift. Meaning, there's been a pattern of choppy bullish or sideways price action followed by sharp bearish price action.- This might be the case again. - In the bearish scenario, we should monitor the 17-17.10 area, which involves a key pivot.- Then, the 15.60-15.80 pivot area will be the next key support.- This bearish outlook becomes more likely if the market starts to show resistance around 18.00. - The bearish outlook also becomes more likely if the daily RSI pushes below 40. This is probably going to happen if price breaks the support around 17.00.Bullish Scenario:- Otherwise, let's say price bounces up from 17.10 with the RSI holding above 40, silver would still have bullish momentum to charge at the 18.50 area again.