Silver testing key resistance


Silver took a pause in its strong rally and consolidated for many days, but this phase looks to be over, and the metal is heading higher again. 

On Monday, it was seen 1.5% stronger during the EU session, changing hands at around 14.65 USD.

The significant resistance for silver now appears to be at around 14.65 USD, where previous swing highs are located. If the price breaches this level (which seems likely), the medium-term trend could switch back to bullish, targeting the 15 USD level. 
Alternatively, the support appears to be at around 14.40 USD, where the previous small narrow range is located. Breaking below this zone could send silver back to 13.90 USD.

As central banks are pumping money into the financial markets, metals could outperform over the near future as inflation will most likely rise sharply. 

The greenback remains stable for now, but it looks like the EURUSD pair cant break the 1.08-1.06 zone, which could lead to a rally here. The weakening dollar may strengthen silver further.

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