Triangle formation on silver

On the daily chart of silver we can see that the commodity has been consolidating just below the 17.00 level and below its 200 day EMA (blue line). On the consolidation we can see that the price of silver has formed what it appears to be a symmetrical triangle or a bullish triangle, either way we must wait first for a breakout and a confirmation, because the price may break out in any direction. On the other hand, these triangle formations usually act as continuation patterns, therefore if the trend coming into the formation is bearish, then the price has a higher probability of breaking to the downside. The 16.00 level could act as its next support followed by the low at the 15.59 level. Above the 17.00 level, its next resistance could be the high at the 17.67 level.