The jump in silver ETFs this week has lifted the metal to a crucial resistance line that has stopped multiple rallies over the past year.

The iShares Silver Trust (NYSEArca: SLV) is on track for a 9% weekly gain.

Silver ETFs are leading gold prices this week on the inflation trade and talk of further quantitative easing from central banks. [Silver ETFs Outperforming Gold in Precious Metals Rally]

SLV is facing a key falling resistance line that technical analysts are watching closely.

Also from a technical perspective, the silver ETF is testing its 200-day simple moving average. It has been stuck below this indicator since early March.