The price of silver $XAGUSD has been rangebound since February. In the daily chart below, we can see price in the $16.20-$17 range.Silver (XAG/USD) Daily Chart(click to enlarge)Consolidation:- The daily chart shows that the $16.20-$17.00 range is within a larger range of consolidation.- Yes, price overall has been sideways throughout 2017 and into 2018. Mixed Signals:- We usually get mixed signals in a sideways market. - The fact that price is holding under the 200-day simple moving average (SMA) shows bearish bias. - However, the fact that the RSI has held above 40 shows maintenance of the bullish momentum at the turn of the year. Breakout:- A break above $17.00 would signal a bullish market, while a break below 16.20 keeps the status quo of a sideways market. - In both cases, the short-term outlook is towards the outer bound of the 2017 range. - Above $17, we can anticipate a push towards $18.50. We should also not rely on $18.50 resistance as much. It looks like by the time XAG/USD gets to $18-$18.50 area, it would be building bullish momentum. - Below $16.20, we can expect a push towards $15.60. But we should anticipate support down to $15.00. Silver (XAG/USD) Weekly Chart(click to enlarge)