Risky Assets Seeing Much Strength Today

In an overall "risk-on" theme in most asset classes today, traders are propping up the prices of gold, crude oil, equities, among others. Crude has been under pressure recently, falling over 4% in the last handful of days. The commodity fell under $93 per barrel, after recently seeing highs of above $100 per barrel. However, that has all changed today. Currently, crude oil is currently trading over 3.4% on Tuesday's session, with recent trading above $97 per barrel. Gold is following suit as well. After the Federal Reserve's remarks from last weeks FOMC meeting, gold has been under much pressure. The precious metal broke below its long-term uptrend support line, and fell below its 200-day moving average for the first time since January 2009. However, in Tuesday's trading session, gold broke above $1600 per ounce and is currently trading over 1.25% higher. This strength in risky-assets could come from an overall relief rally, as risky assets have been under pressure recently. Included in this broad move higher is U.S. equity markets. The S&P 500 is currently up 2.5% at around 1236.