Nike $NKE has been trading sideways throughout the year and is about to the 2017 range resistance.Nike Weekly Chart(click to enlarge)Bullish-Neutral:- The weekly chart shows that Nike was bullish entering 2016, after which it started to consolidate.- Price has remained above the 200-week simple moving average, a sign that the long-term trend is still bullish.- It has recently climbed back above the 100- and 50-week SMAs as well. - Note the range between roughly 50 and 60.- If price breaks above 60.50, we should anticipate an extension towards the 68.40 high, and possibly even higher i.e. 70. - If price retreats from 60-60.50 area, we should anticipate downside to at least the middle of the range around 55. - Then, if price fails to break below 55, we should continue to expect pressure on 60-60.50 with anticipation of a breakout if price does come up to test this resistance.- A break below 55 means the market remains in consolidation.