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Silver Price Approaches the 2014 low and Consolidation Triangle Support

XAG/USD (Silver) so far this year made 2 main moves. A sharp rally during the first half of February, followed by an eventual decline that is still going on in April. This decline has almost returned silver prices back to the 2014-lows near the 19.00  handle.



(xagusd, daily chart, 4/21)

Consolidation Triangle:
The daily chart shows a market that has essentially been consolidating sine June 2013. It has been in somewhat of a consolidation triangle and price is approaching the triangle support. 

Support:
The 2013-low is at 18.20, and the prevailing trend is bearish since April 2011. A break below that will be needed for bearish continuation. Otherwise, we should consider support coming up in the short-term, especially if price is around 19, and the oscillators show oversold conditions.
Bullish scenario:
A break above 20 returns the focus on the triangle resistance. A break above 22 will be a good sign that silver has found a bottom after a year of consolidation and opens up a bullish outlook for the rest of this year.