Silver has been bullish since coming off of 13.60 in December. The daily chart shows price push above a falling trendline, and the cluster of 200-, 100-, and 50-day simple moving averages before stalling under 16. XAG/USD Daily Chart 3/16(click to enlarge) Bullish Signs: After a pullback, the market showed respect to the previous price bottom as support. Also note that a newly formed rising trendline held as support along with the cluster of moving averages. These are all bullish signs. Now, price is once again stalling after a bullish swing. Note a new range formed between roughly 15.12 and 15.77.XAG/USD 4H Chart 3/16(click to enlarge)Bullish Scenario: We can see price slowing its decline as it approaches the 15.12 support area. Also note that it is reinforced by the 200-period SMA in the 4H chart. Furthermore, the RSI has tagged 70 and is now right around 40. If bullish momentum is to continue in the 4H chart, we should see the RSI hold above 40 and turn up. In this bullish outlook, the 15.77 high would be back in sight, with upside risk towards 16.00. This expected time-frame should be a week or so, based on the recent volatility. Failure: Now, if there is a break below 15.12, we might need to give it elbow space to 15 before giving up on the bullish outlook. A break below 15 might neutralize the bullish scenario and introduce a bearish one at least towards 14.60.