Silver was trading nearly a percent higher on Tuesday, hovering at around 15.50 USD, which are levels last seen during the steep March' sell-off.
The major resistance for silver seems to be at around 16.65 USD, where previous strong support of swing lows is located. Bears need to defend this level in order for the price to start going lower again. However, if the price jumps above this zone, the long-term trend could switch back to bullish.
Alternatively, the support could be seen at the psychological level of 15 USD and afterward at around 14.65 USD.
As previously said, central banks are pumping money at an unprecedented pace, which will inevitably create inflation. Therefore, mainly gold, but partly silver, should benefit in this environment.
